SECTIONS 14101-14109 - California Statutes

COMMERCIAL CODE

SECTION 14101-14109

14101. The amendments to this code, as adopted by the Legislature
at the 1973-74 Regular Session, shall become effective at 12:01 a.m.
on January 1, 1976.

14102. The provisions of Division 13 shall continue to apply to
this code, as amended by the Legislature at the 1973-74 Regular
Session, and for this purpose this code as it existed prior to
January 1, 1976, and this code, as amended by the Legislature at the
1973-74 Regular Session, shall be considered one continuous statute.

14103. Transactions validly entered into after January 1, 1965, and
before January 1, 1976, and which were subject to the provisions of
this code and which would be subject to this code as amended by the
Legislature at the 1973-74 Regular Session if they had been entered
into after January 1, 1976, and the rights, duties, and interests
flowing from the transactions remain valid after January 1, 1976, and
may be terminated, completed, consummated, or enforced as required
or permitted by this code as amended by the Legislature at the 1972
Regular Session. Security interests arising out of these transactions
which are perfected on January 1, 1976, shall remain perfected until
they lapse as provided in this code as amended by the Legislature at
the 1973-74 Regular Session, and may be continued as permitted by
this code as amended by the Legislature at the 1973-74 Regular
Session, except as stated in Section 14105.

14104. A security interest for the perfection of which filing or
the taking of possession was required under this code and which
attached prior to January 1, 1976, but was not perfected shall be
deemed perfected on January 1, 1975, if this code as amended by the
Legislature at the 1973-74 Regular Session permits perfection without
filing or authorizes filing in the office or offices where a prior
ineffective filing was made.

14105. (1) A financing statement or continuation statement filed
prior to January 1, 1976, which shall not have lapsed prior to
January 1, 1976, shall remain effective for the period provided in
this code as it existed prior to January 1, 1976, but not less than
five years after the filing.
(2) With respect to any collateral acquired by the debtor
subsequent to January 1, 1976, any effective financing statement or
continuation statement described in this section shall apply only if
the filing or filings are in the office or offices that would be
appropriate to perfect the security interests in the new collateral
under this code as amended by the Legislature at the 1973-74 Regular
Session.
(3) The effectiveness of any financing statement or continuation
statement filed prior to January 1, 1976, may be continued by a
continuation statement as permitted by this code as amended by the
Legislature at the 1973-74 Regular Session, except that if this code,
as amended by the Legislature at the 1973-74 Regular Session,
requires a filing in an office where there was no previous financing
statement, a new financing statement conforming to Section 14106
shall be filed in that office.

14106. (1) If a security interest is perfected or has priority on
January 1, 1976, as to all persons or as to certain persons without
any filing or recording, and if the filing of a financing statement
would be required for the perfection or priority of the security
interest against those persons under this code, as amended by the
Legislature at the 1973-74 Regular Session, the perfection and
priority rights of the security interest continue until January 1,
1979. The perfection will then lapse unless a financing statement is
filed as provided in subdivision (4) or unless the security interest
is perfected otherwise than by filing.
(2) If a security interest is perfected on January 1, 1976, under
a law other than this code which requires no further filing, refiling
or recording to continue its perfection, perfection continues until
and will lapse January 1, 1979, unless a financing statement is filed
as provided in subdivision (4) or unless the security interest is
perfected otherwise than by filing, or unless under Section 9311 the
other law continues to govern filing.
(3) If a security interest is perfected by a filing, refiling or
recording under a law repealed by this code as amended by the
Legislature at the 1973-74 Regular Session which required further
filing, refiling or recording to continue its perfection, perfection
continues and will lapse on the date provided by the law so repealed
for a further filing, refiling, or recording unless a financing
statement is filed as provided in subdivision (4) or unless the
security interest is perfected otherwise than by filing.
(4) A financing statement may be filed within six months before
the perfection of a security interest would otherwise lapse. Any such
financing statement may be signed by either the debtor or the
secured party. It must identify the security agreement, statement, or
notice (however denominated in any statute or other law repealed or
modified by this code as amended by the Legislature at the 1973-74
Regular Session), state the office where and the date when the last
filing, refiling, or recording, if any, was made with respect
thereto, and the filing number, if any, was made with respect
thereto, and the filing number, if any, or book and page, if any, of
recording and further state that the security agreement, statement,
or notice, however denominated, in another filing office under this
code or under any statute or other law repealed or modified by this
code as amended by the Legislature at the 1973-74 Regular Session is
still effective. Section 9501 and Sections 9301, 9303, 9304, 9305,
9306, 9307, 9316, and 9337 determine the proper place to file such a
financing statement. Except as specified in this subdivision, the
provisions of Sections 9515 and 9522 for continuation statements
apply to such a financing statement.

14107. Except as otherwise provided in this division, this code as
it existed prior to January 1, 1976, shall apply to any questions of
priority if the positions of the parties were fixed prior to January
1, 1976. In other cases questions of priority shall be determined by
this code as amended by the Legislature at the 1973-74 Regular
Session.

14108. Unless a change in law has clearly been made, the provisions
of this code as amended by the Legislature at the 1973-74 Regular
Session shall be deemed declaratory of the meaning of this code as it
existed prior to January 1, 1976. The amendments to subdivision (38)
of Section 1201 and to subdivision (j) of Section 9104 of this code
as amended by the Legislature at the 1973-74 Regular Session shall be
deemed declaratory of the meaning of this code as it existed prior
to January 1, 1976.

14109. (1) The amendments to this code relating to fixtures adopted
by the Legislature at the 1979-1980 Regular Session shall apply to
security interests which attach on or after January 1, 1981, in goods
which become fixtures on or after January 1, 1981.
(2) If the record of a mortgage of real estate would have been
effective as a fixture filing of goods described therein if the
amendments to this code relating to fixtures adopted by the
Legislature at the 1979-1980 Regular Session had been in effect on
the date of recording the mortgage, the mortgage shall be deemed
effective as a fixture filing as to such goods under subdivision (6)
of Section 9402 as of January 1, 1981.