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Uniform Commercial Code | |
Corrected Uniform Commercial Code - Effective Date and Transition Provisions | |
Section 103 | Transition to corrected Uniform Commercial Code -- General rule. |
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70A-11-103. Transition to corrected Uniform Commercial Code -- General rule. Transactions validly entered into after December 31, 1965 and before July 1, 1977, and which are subject to the provisions of the old Uniform Commercial Code and which would be subject to this act as amended if they had been entered into after the effective date of the corrected Uniform Commercial Code and the rights, duties and interests flowing from such transactions remain valid after the latter date and may be terminated, completed, consummated or enforced as required or permitted by the corrected Uniform Commercial Code. Security interests arising out of such transactions which are perfected when the corrected Uniform Commercial Code becomes effective shall remain perfected until they lapse as provided in the corrected Uniform Commercial Code, and may be continued as permitted by the corrected Uniform Commercial Code, except as stated in section 70A-11-105.
Enacted by Chapter 272, 1977 General Session |
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