Legislation

* Section 12-A-301. Saving Clause.

(a) Pre-effective-date transaction, lien, or interest. Except as
provided in this part, Article 9 as amended by the UCC Revision Act and
Article 12 apply to a transaction, lien, or other interest in property,
even if the transaction, lien, or interest was entered into, created, or
acquired before the effective date.

(b) Continuing validity. Except as provided in subsection (c) and
Sections 12-A-302 through 12-A-306:

(1) a transaction, lien, or interest in property that was validly
entered into, created, or transferred before the effective date of the
UCC Revision Act and was not governed by the Uniform Commercial Code,
but would be subject to Article 9 as amended by the UCC Revision Act or
Article 12 if it had been entered into, created, or transferred on or
after the effective date, including the rights, duties, and interests
flowing from the transaction, lien, or interest, remains valid on and
after the effective date of the UCC Revision Act; and

(2) the transaction, lien, or interest may be terminated, completed,
consummated, and enforced as required or permitted by the revised UCC or
by the law that would apply if the UCC Revision Act had not taken
effect.

(c) Pre-effective-date proceeding. The UCC Revision Act does not
affect an action, case, or proceeding commenced before the effective
date of the UCC Revision Act.

* NB Effective June 3, 2026