§ A-301. Saving clause.

204 words·~1 min read·/de/title-6/a-301

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Pre-effective-date transaction, lien, or interest. —

Except as provided in this part, Article 9, as amended by the amending Act, and Article 12 apply to a transaction, lien, or other interest in property, even if the transaction, lien, or interest was entered into, created, or acquired before August 18, 2023.

(b)Continuing validity. —

Except as provided in subsection

(c)and Sections A-302 through A-306:

(1)a transaction, lien, or interest in property that was validly entered into, created, or transferred before August 18, 2023, and was not governed by the Uniform Commercial Code, but would be subject to Article 9, as amended by the amending Act, or Article 12 if it had been entered into, created, or transferred on or after August 18, 2023, including the rights, duties, and interests flowing from the transaction, lien, or interest, remains valid on and after August 18, 2023; and

(2)the transaction, lien, or interest may be terminated, completed, consummated, and enforced as required or permitted by the amending Act or by the law that would apply if the amending Act had not taken effect.

(c)Pre-effective-date proceeding. —

The amending Act does not affect an action, case, or proceeding commenced before August 18, 2023.