1. Pre-effective-date transactions or liens. Except as otherwise provided in this part, this Act* applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2001.
2. Continuing validity. Except as otherwise provided in subsection 3 and sections 554.9703, 554.9704, 554.9705, 554.9706, 554.9707, 554.9708, and 554.9709:
a. transactions and liens that were not governed by former Article 9, were validly entered into or created before July 1, 2001, and would be subject to this Act* if they had been entered into or created after July 1, 2001, and the rights, duties, and interests flowing from those transactions and liens remain valid after July 1, 2001; and
b. the transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this Act* or by the law that otherwise would apply if this Act* had not taken effect.
3. Pre-effective-date proceedings. This Act* does not affect an action, case, or proceeding commenced before July 1, 2001.
2000 Acts, ch 1149, §128, 187
*2000 Acts, ch 1149
Effective July 1, 2001; 2000 Acts, ch 1149, §187; for law prior to July 1, 2001, see Code 2001
Previous Section 554.9701
Next Section 554.9703
© 2003 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Jan 28 13:52:42 CST 2003
URL: /DOCS/IACODE/2003/554/9702.html
jhf