§ 9-702. 9-702
171 words·~1 min read·
/us/ucc/a9/s9-702A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)[Pre-effective-date transactions or liens.] Except as otherwise provided in this part, this [Act] applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this [Act] takes effect..
(b)[Continuing validity.] Except as otherwise provided in subsection
(c)and Sections 9-703 through 9-709 :
(1)transactions and liens that were not governed by [former Article 9], were validly entered into or created before this [Act] takes effect, and would be subject to this [Act] if they had been entered into or created after this [Act] takes effect, and the rights, duties, and interests flowing from those transactions and liens remain valid after this [Act] takes effect; and
(2)the transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this [Act] or by the law that otherwise would apply if this [Act] had not taken effect.
(c)[Pre-effective-date proceedings.] This [Act] does not affect an action, case, or proceeding commenced before this [Act] takes effect.