(b) Continuing priority over lien creditor: perfection requirements not satisfied. Except as otherwise provided in Section 9–705, if, immediately before this act takes effect, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this act are not satisfied when this act takes effect, the security interest:

1. (1) is a perfected security interest for 1 year after this act takes effect;
2. (2) remains enforceable thereafter only if the security interest becomes enforceable under Section 9–203 before the year expires; and
3. (3) remains perfected thereafter only if the applicable requirements for perfection under this act are satisfied before the year expires.