SECTIONS 8601-8603 - California Statutes

COMMERCIAL CODE

SECTION 8601-8603

8601. This division becomes operative January 1, 1997.

8603. (a) This division does not affect an action or proceeding
commenced before this division becomes operative.
(b) If a security interest in a security is perfected at the date
this division becomes operative, and the action by which the security
interest was perfected would suffice to perfect a security interest
under this division, no further action is required to continue
perfection. If a security interest in a security is perfected at the
date this division takes effect but the action by which the security
interest was perfected would not suffice to perfect a security
interest under this division, the security interest remains perfected
for a period of four months after the operative date and continues
perfected thereafter if appropriate action to perfect under this
division is taken within that period. If a security interest is
perfected at the date this division becomes operative and the
security interest can be perfected by filing under Division 9
(commencing with Section 9101), a financing statement signed by the
secured party instead of the debtor may be filed within that period
to continue perfection or thereafter to perfect and that financing
statement shall contain a statement that it is being filed pursuant
to this section.