Title 57A, UNIFORM COMMERCIAL CODE

(a) If there is a conflict between this chapter and chapter 57A-9 , chapter 57A-9 governs. (b) A transaction subject to this chapter is subject to any applicable rule of law that establishes a different rule for consumers and to (i) title 51A and title 54 and (ii) chapter 37-23 .…

(a) 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 (c), (d), (e), (g), and (h) of a purchaser and qualifying purchaser, in the same manner this sectio…

(a) 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: (1) Gives the person: (A) Power to avail itself of substantially…

(a) An account debtor on a controllable account or controllable payment intangible may discharge its obligation by paying: (1) The person having control of the controllable electronic record that evidences the controllable account or controllable payment intangible; or (2) Except…

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

This chapter may be cited as Transitional Provisions for Uniform Commercial Code Amendments (2022). Source: SL 2024, ch 198 , § 101.

(a) In this chapter: (1) "Adjustment date" means July 1, 2025, or the date that is one year after July 1, 2024, whichever is later. (2) "Article 12" means Article 12 of the Uniform Commercial Code as adopted under chapter 57A-12 . (3) "Article 12 property" means a controllable ac…

Except as provided in Part 3, a transaction validly entered into before July 1, 2024, 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 t…

(a) Except as provided in this section, chapter 57A-9 as amended by SL 2024, ch 198 and chapter 57A-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, 2024. (b) Except …

(a) A security interest that is enforceable and perfected immediately before July 1, 2024, is a perfected security interest under SL 2024, ch 198 if, on July 1, 2024, the requirements for enforceability and perfection under SL 2024, ch 198 are satisfied without further action. (b…

A security interest that is enforceable immediately before July 1, 2024, but is unperfected at that time: (1) Remains an enforceable security interest until the adjustment date; (2) Remains enforceable thereafter if the security interest become enforceable under § 57A-9-203 , as …

(a) If action, other than the filing of a financing statement, is taken before July 1, 2024, and the action would have resulted in perfection of the security interest had the security interest become enforceable before July 1, 2024, the action is effective to perfect a security i…

(a) Subject to subsections (b) and (c), SL 2024, ch 198 determines the priority of conflicting claims to collateral. (b) Subject to subsection (c), if the priorities of claims to collateral were established before July 1, 2024, chapter 57A-9 as in effect before July 1, 2024, dete…

(a) Subject to subsection (b) and (c), chapter 57A-12 determines the priority of conflicting claims to Article 12 property when the priority rules of chapter 57A-9 as amended by SL 2024, ch 198 do not apply. (b) Subject to subsection (c), when the priority rules of chapter 57A-9 …