Transitional Provisions for Uniform Commercial Code

This act governs the transition from prior law to a revised version of the Uniform Commercial Code, addressing how the new rules apply to transactions, security interests, and steps already taken before the revision took effect. Its central mechanism is a set of savings clauses that preserve the validity of pre-existing transactions and prior actions, together with rules determining whether a security interest perfected — or left unperfected — under the earlier law retains that status going forward. It also establishes priority rules for competing claims, including claims falling outside the reach of the secured transactions article's own priority scheme.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.