BUSINESS & COMMERCE CODE
CHAPTER 11. EFFECTIVE DATE AND TRANSITION PROVISIONS--1973
AMENDMENTS
§ 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, § 6, eff. Jan. 1,
1974.
§ 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, § 6, eff. Jan. 1,
1974.
§ 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, § 6, eff. Jan. 1,
1974.
§ 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, § 6, eff. Jan. 1,
1974.
§ 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, § 6, eff. Jan. 1,
1974. Amended by Acts 1975, 64th Leg., p. 943, ch. 353, § 10, 11,
eff. June 19, 1975.
§ 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, § 6, eff. Jan. 1,
1974.
§ 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, § 6, eff. Jan. 1,
1974.
§ 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, § 6, eff. Jan. 1,
1974. Amended by Acts 1975, 64th Leg., p. 944, ch. 353, § 12,
eff. June 19, 1975; Acts 1977, 65th Leg., p. 334, ch. 163, § 5,
eff. Aug. 29, 1977.
