Sec. 42a-8-601. Savings clause. - Connecticut Statutes

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Statutes > Connecticut > Title42a > Art008 > Sec42a-8-601

      Sec. 42a-8-601. Savings clause. (a) Public act 97-182* does not affect an action or proceeding commenced before October 1, 1997.

      (b) If a security interest in a security is perfected as of October 1, 1997, and the action by which the security interest was perfected would suffice to perfect a security interest under public act 97-182*, no further action is required to continue perfection. If a security interest in a security is perfected as of October 1, 1997, but the action by which the security interest was perfected would not suffice to perfect a security interests under public act 97-182*, the security interest remains perfected for a period of four months after October 1, 1997, and continues perfected thereafter if appropriate action to perfect under public act 97-182* is taken within that period. If a security interest is perfected as of October 1, 1997, and the security interest can be perfected by filing under public act 97-182*, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect.

      (P.A. 97-182, S. 67.)

      *Note: Public act 97-182 is entitled "An Act Revising Article 8 of the Uniform Commercial Code Concerning Investment Securities". (See Reference Table captioned "Public Acts of 1997" in Volume 16 which lists the sections amended, created or repealed by the act.)

State Codes and Statutes

Statutes > Connecticut > Title42a > Art008 > Sec42a-8-601

      Sec. 42a-8-601. Savings clause. (a) Public act 97-182* does not affect an action or proceeding commenced before October 1, 1997.

      (b) If a security interest in a security is perfected as of October 1, 1997, and the action by which the security interest was perfected would suffice to perfect a security interest under public act 97-182*, no further action is required to continue perfection. If a security interest in a security is perfected as of October 1, 1997, but the action by which the security interest was perfected would not suffice to perfect a security interests under public act 97-182*, the security interest remains perfected for a period of four months after October 1, 1997, and continues perfected thereafter if appropriate action to perfect under public act 97-182* is taken within that period. If a security interest is perfected as of October 1, 1997, and the security interest can be perfected by filing under public act 97-182*, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect.

      (P.A. 97-182, S. 67.)

      *Note: Public act 97-182 is entitled "An Act Revising Article 8 of the Uniform Commercial Code Concerning Investment Securities". (See Reference Table captioned "Public Acts of 1997" in Volume 16 which lists the sections amended, created or repealed by the act.)

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Statutes > Connecticut > Title42a > Art008 > Sec42a-8-601

      Sec. 42a-8-601. Savings clause. (a) Public act 97-182* does not affect an action or proceeding commenced before October 1, 1997.

      (b) If a security interest in a security is perfected as of October 1, 1997, and the action by which the security interest was perfected would suffice to perfect a security interest under public act 97-182*, no further action is required to continue perfection. If a security interest in a security is perfected as of October 1, 1997, but the action by which the security interest was perfected would not suffice to perfect a security interests under public act 97-182*, the security interest remains perfected for a period of four months after October 1, 1997, and continues perfected thereafter if appropriate action to perfect under public act 97-182* is taken within that period. If a security interest is perfected as of October 1, 1997, and the security interest can be perfected by filing under public act 97-182*, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect.

      (P.A. 97-182, S. 67.)

      *Note: Public act 97-182 is entitled "An Act Revising Article 8 of the Uniform Commercial Code Concerning Investment Securities". (See Reference Table captioned "Public Acts of 1997" in Volume 16 which lists the sections amended, created or repealed by the act.)