Title 11, Title 11

(1). If action, other than the filing of a financing statement, is taken before this Article takes effect and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor had the security interest become enforceable be…

(1). The filing of an initial financing statement in the office specified in section 9‑1501 continues the effectiveness of a financing statement filed before this Article takes effect if: (a). The filing of an initial financing statement in that office would be effective to perfe…

(1). In this section, "preeffective-date financing statement" means a financing statement filed before this Article takes effect. (2). After this Article takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend…

A person may file an initial financing statement or a continuation statement under this part if: [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (1). The secured party of record authorizes the filing; and (2). The filing is necessary under this part: (a). To…

(1). This Article determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this Article takes effect, former Article 9 determines priority. (2). For purposes of section 9‑1322, subsection (1), the prior…

(1). For the purposes of this Article, the phrase "old code" means the Uniform Commercial Code as enacted by public law, 1963, chapter 362 and as amended by the following:Public law, 1965, chapter 306; Public law, 1967, chapter 213; Public law, 1969, chapter 155; Public law, 1969…

Chapter 362, section 41 of the public laws of 1963 shall continue to apply to the new code and for this purpose the old code and the new code shall be considered one continuous statute.

Transactions validly entered into after December 31, 1964, and before January 1, 1978, and which are subject to the provisions of the old code and which would be subject to the new code and this Article, as amended if they had been entered into after the effective date of public …

A security interest for the perfection of which filing or the taking of possession was required under the old code and which attached prior to the effective date of public law, 1977, chapter 526, but was not perfected shall be deemed perfected on the effective date of public law,…

(1). A financing statement or continuation statement filed prior to January 1, 1978, which shall not have lapsed prior to January 1, 1978, shall remain effective for the period provided in the old code, but not less than 5 years after the filing. (2). With respect to any collater…

(1). If a security interest is perfected or has priority when public law, 1977, chapter 526 takes 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 s…

Except as otherwise provided in this Article, the old code shall apply to any questions of priority if the positions of the parties were fixed prior to the effective date of public law, 1977, chapter 526. In other cases, questions of priority shall be determined by the new code.

Unless a change in law has clearly been made, the new code shall be deemed declaratory of the meaning of the old code.

This Article may be cited as "the Uniform Commercial Code - Controllable Electronic Records."

(1). In this Article, unless the context otherwise indicates, the following terms have the following meanings. (a). "Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under section 12‑105. "Controllable electronic recor…

(1). If there is conflict between this Article and Article 9‑A, Article 9‑A governs. (2). A transaction subject to this Article is subject to any applicable rule of law that establishes a different rule for consumers, including Title 9‑A, Title 30‑A, chapter 183, subchapter 6 and…

(1). This section applies to the acquisition and purchase of rights in a controllable account or controllable payment intangible, including the rights and benefits under subsections (3), (4), (5), (6) and (7) of a purchaser and qualifying purchaser, in the same manner as this sec…

(1). A person has control of a controllable electronic record if the electronic record, a record attached to or logically associated with the electronic record or a system in which the electronic record is recorded: (a). Gives the person: (i) Power to avail itself of substantiall…

(1). An account debtor on a controllable account or controllable payment intangible may discharge its obligation by paying: (a). The person having control of the controllable electronic record that evidences the controllable account or controllable payment intangible; or [PL 2023…

(1). Except as provided in subsection (2), the local law of a controllable electronic record's jurisdiction governs a matter covered by this Article. (2). For a controllable electronic record that evidences a controllable account or controllable payment intangible, the local law …

This Article may be cited as "the Transitional Provisions for Uniform Commercial Code Amendments (2022)."

(1). For the purposes of this Article, unless the context otherwise indicates, the following terms have the following meanings. (a). "Adjustment date" means July 1, 2026. [PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).] (b). "Article 12" means Article 12 of t…

Except as provided in part 3, a transaction validly entered into before July 1, 2025 and the rights, duties and interests flowing from the transaction remain valid thereafter and may be terminated, completed, consummated or enforced as required or permitted by law other than the …

(1). Except as provided in this part, Article 9‑A as in effect on July 1, 2025 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 July 1, 2025. (2). Except as provided i…

(1). A security interest that is enforceable and perfected immediately before July 1, 2025 is a perfected security interest under this Title if, on July 1, 2025, the requirements for enforceability and perfection under this Title as in effect on July 1, 2025 are satisfied without…

A security interest that is enforceable immediately before July 1, 2025 but is unperfected at that time: [PL 2023, c. 669, Pt. C, §1 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).] (1). Remains an enforceable security interest until the adjustment date; (2). Remains enforceable thereaf…

(1). If action, other than the filing of a financing statement, is taken before July 1, 2025 and the action would have resulted in perfection of the security interest had the security interest become enforceable before July 1, 2025, the action is effective to perfect a security i…

(1). Subject to subsections (2) and (3), this Title as in effect on July 1, 2025 determines the priority of conflicting claims to collateral. (2). Subject to subsection (3), if the priorities of claims to collateral were established before July 1, 2025, Article 9‑A as in effect b…

(1). Subject to subsections (2) and (3), Article 12 determines the priority of conflicting claims to Article 12 property when the priority rules of Article 9‑A as in effect on July 1, 2025 do not apply. (2). Subject to subsection (3), when the priority rules of Article 9‑A as in …