CHAPTER 11. EFFECTIVE DATE AND TRANSITION PROVISIONS--1973 AMENDMENTS
BUSINESS AND COMMERCE CODE
TITLE 1. UNIFORM COMMERCIAL CODE
CHAPTER 11. EFFECTIVE DATE AND TRANSITION PROVISIONS--1973
AMENDMENTS
Sec. 11.101. EFFECTIVE DATE. This Act (referred to as the "1973
amendments") takes effect on January 1, 1974.
Added by Acts 1973, 63rd Leg., p. 1030, ch. 400, Sec. 6, eff.
Jan. 1, 1974.
Sec. 11.102. PRESERVATION OF OLD TRANSITION PROVISIONS. The
provisions of Article 10 of the Uniform Commercial Code, as
amended, shall continue to apply to the amended code, and for
this purpose this code as amended shall be considered one
continuous statute.
Added by Acts 1973, 63rd Leg., p. 1030, ch. 400, Sec. 6, eff.
Jan. 1, 1974.
Sec. 11.103. TRANSITION TO 1973 AMENDMENTS--GENERAL RULE.
Transactions validly entered into after June 30, 1966, and before
January 1, 1974, and which were subject to the provisions of this
title and which would be subject to the 1973 amendments if they
had been entered into on or after January 1, 1974, and the
rights, duties and interests flowing from such transactions
remain valid on and after the latter date and may be terminated,
completed, consummated or enforced as required or permitted by
the 1973 amendments. Security interests arising out of such
transactions which are perfected when the 1973 amendments become
effective shall remain perfected until they lapse as provided in
the code as amended, and may be continued as permitted by the
code as amended, except as stated in Section 11.105.
Added by Acts 1973, 63rd Leg., p. 1030, ch. 400, Sec. 6, eff.
Jan. 1, 1974.
Sec. 11.104. TRANSITION PROVISION ON CHANGE OF REQUIREMENT OF
FILING. A security interest for the perfection of which filing
or the taking of possession was required under this code and
which attached prior to January 1, 1974, but was not perfected
shall be deemed perfected on January 1, 1974, if this code as
amended permits perfection without filing or authorizes filing in
the office or offices where a prior ineffective filing was made.
Added by Acts 1973, 63rd Leg., p. 1030, ch. 400, Sec. 6, eff.
Jan. 1, 1974.
Sec. 11.105. TRANSITION PROVISION ON CHANGE OF PLACE OF FILING.
(a) A financing statement or continuation statement filed prior
to January 1, 1974, which shall not have lapsed prior to January
1, 1974, shall remain effective for the period provided in the
code before January 1, 1974, but not less than five years after
the filing.
(b) With respect to any collateral, other than fixtures or
minerals or the like (including oil and gas) or accounts subject
to Subsection (e) of Section 9.103, which are covered by a
financing statement or security agreement filed as a financing
statement or continuation statement filed prior to January 1,
1974, and which shall not have lapsed prior to January 1, 1974,
acquired by the debtor on or after January 1, 1974, any effective
financing statement or security agreement filed as a financing
statement or continuation statement described in this section and
purporting to cover such after-acquired collateral shall apply
only if the filing or filings are in the office or offices that
would be appropriate to perfect the security interests in the new
collateral under the code with its 1973 amendments.
(c) The effectiveness of any financing statement or continuation
statement filed prior to January 1, 1974, may be continued by a
continuation statement as permitted by this code with 1973
amendments, except that if this code with 1973 amendments,
requires a filing or a filing for record in an office where there
was no previous financing statement, a new financing statement
conforming to Section 11.106 shall be filed or filed for record
in that office.
(d) If the filing for record of a mortgage would have been
effective as to the types of collateral enumerated in Subsection
(f) of Section 9.402 if the 1973 amendments had been in effect on
the date of the filing for record of the mortgage, the mortgage
shall be deemed effective as such a filing as to the types of
collateral enumerated in Subsection (f) of Section 9.402 of this
code, as amended, on January 1, 1974.
Added by Acts 1973, 63rd Leg., p. 1030, ch. 400, Sec. 6, eff.
Jan. 1, 1974. Amended by Acts 1975, 64th Leg., p. 943, ch. 353,
Sec. 10, 11, eff. June 19, 1975.
Sec. 11.106. REQUIRED REFILINGS. (a) If a security interest is
perfected or has priority when the 1973 amendments take effect as
to all persons or as to certain persons without any filing or
recording, and if the filing of a financing statement would be
required for the perfection or priority of the security interest
against those persons under the 1973 amendments, the perfection
and priority rights of the security interest continue until
January 1, 1977. The perfection will then lapse unless a
financing statement is filed as provided in Subsection (d) or
unless the security interest is perfected otherwise than by
filing.
(b) If a security interest is perfected when the 1973 amendments
take effect under a law other than this title which requires no
further filing, refiling or recording to continue its perfection,
perfection continues until and will lapse on January 1, 1977,
unless a financing statement is filed as provided in Subsection
(d) or unless the security interest is perfected otherwise than
by filing, or unless under Subsection (c) of Section 9.302 the
other law continues to govern filing.
(c) If a security interest is perfected by a filing, refiling or
recording under a law repealed by this Act which required further
filing, refiling or recording to continue its perfection,
perfection continues and will lapse on the date provided by the
law so repealed for such further filing, refiling or recording
unless a financing statement is filed as provided in Subsection
(d) or unless the security interest is perfected otherwise than
by filing.
(d) A financing statement may be filed within six months before
the perfection of a security interest would otherwise lapse. Any
such financing statement may be signed by either the debtor or
the secured party. It must identify the security agreement,
statement or notice (however denominated in any statute or other
law repealed or modified by this Act), state the office where and
the date when the last filing, refiling or recording, if any, was
made with respect thereto, and the filing number, if any, or book
and page, if any, of recording and further state that the
security agreement, statement or notice, however denominated, in
another filing office under this title or under any statute or
other law repealed or modified by this Act is still effective.
Section 9.401 and Section 9.103 determine the proper place to
file such a financing statement. Except as specified in this
subsection, the provisions of Section 9.403(c) for continuation
statements apply to such a financing statement.
Added by Acts 1973, 63rd Leg., p. 1030, ch. 400, Sec. 6, eff.
Jan. 1, 1974.
Sec. 11.107. TRANSITION PROVISIONS AS TO PRIORITIES. Except as
otherwise provided in this chapter, this title as it existed
before the 1973 amendments took effect shall apply to any
questions of priority if the positions of the parties were fixed
prior to January 1, 1974. In other cases questions of priority
shall be determined by this title with 1973 amendments.
Added by Acts 1973, 63rd Leg., p. 1030, ch. 400, Sec. 6, eff.
Jan. 1, 1974.
Sec. 11.108. PRESUMPTION THAT RULE OF LAW CONTINUES UNCHANGED.
Unless a change in law has clearly been made, the provisions of
this title with 1973, 1975, and 1977 amendments shall be deemed
declaratory of the meaning of the title.
Added by Acts 1973, 63rd Leg., p. 1030, ch. 400, Sec. 6, eff.
Jan. 1, 1974. Amended by Acts 1975, 64th Leg., p. 944, ch. 353,
Sec. 12, eff. June 19, 1975; Acts 1977, 65th Leg., p. 334, ch.
163, Sec. 5, eff. Aug. 29, 1977.