554.11103 Transition to this chapter as amended — general rule.
126 words·~1 min read·
/ia/chapter-554-uniform-commercial-code/554-11103A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Transactions validly entered into after July 4, 1966, and before January 1, 1975, which were subject to the provisions of this chapter prior to amendment and which would be subject to this chapter as amended if they had been entered into on or after January 1, 1975, and the rights, duties and interests flowing from such transactions remain valid after January 1, 1975, and may be terminated, completed, consummated or enforced as required or permitted by this chapter as amended.
Security interests arising out of such transactions which are perfected on January 1, 1975, shall remain perfected until they lapse or are terminated as provided in this chapter as amended, and may be continued as permitted by this chapter as amended.
[C75, 77, 79, 81, §554.11103]