62A.11-103 - Transition to the Uniform Commercial Code as amended by chapter 41, Laws of 1981; general rule. - Washington Statutes

Transition to the Uniform Commercial Code as amended by chapter 41, Laws of 1981; general rule.

Transactions validly entered into after June 30, 1967 and before midnight June 30, 1982, and which were subject to the provisions of the Uniform Commercial Code as it existed before midnight June 30, 1982 and which would be subject to the Uniform Commercial Code as amended if they had been entered into after midnight June 30, 1982 and the rights, duties and interests flowing from such transactions remain valid after midnight June 30, 1982 and may be terminated, completed, consummated or enforced as required or permitted by the Uniform Commercial Code as amended by chapter 41, Laws of 1981. Security interests arising out of such transactions which are perfected by midnight June 30, 1982 shall remain perfected until they lapse as provided in the Uniform Commercial Code as amended by chapter 41, Laws of 1981, and may be continued as permitted by the Uniform Commercial Code as amended by chapter 41, Laws of 1981, except as stated in RCW 62A.11-105.

[1981 c 41 § 39.]

Notes: Effective date -- 1981 c 41: See RCW 62A.11-101.