70A-11-103 - Transition to corrected Uniform Commercial Code -- General rule. - Utah Statutes

70A-11-103. Transition to corrected Uniform Commercial Code -- General rule.
Transactions validly entered into after December 31, 1965 and before July 1, 1977, andwhich are subject to the provisions of the old Uniform Commercial Code and which would besubject to this act as amended if they had been entered into after the effective date of the correctedUniform Commercial Code and the rights, duties and interests flowing from such transactionsremain valid after the latter date and may be terminated, completed, consummated or enforced asrequired or permitted by the corrected Uniform Commercial Code. Security interests arising outof such transactions which are perfected when the corrected Uniform Commercial Code becomeseffective shall remain perfected until they lapse as provided in the corrected Uniform CommercialCode, and may be continued as permitted by the corrected Uniform Commercial Code, except asstated in section 70A-11-105.

Enacted by Chapter 272, 1977 General Session