16a-9-101.   (UCCC) Time of taking effect; provisions for transition. (1) Sections 1 through 135 of this act [*] take effect at 12:01 a.m. onJanuary 1, 1974.

      (2)   To the extent appropriate to permit the administrator to prepare foroperation of sections 1 through 135 of this act [*] when it takes effectand to act on applications for licenses to make supervised loans under thisact (subsection (1) of section 16a-2-302), the part on supervised lenders(part 3) of the article on finance charges and related provisions (article2), and the article on administration (article 6) take effect January 1,1974.

      (3)   Transactions entered into before sections 1 through 135 of this act[*] take effect and the rights, duties, and interests flowing from themthereafter may be terminated, completed, consummated, or enforced asrequired or permitted by any statute, rule of law, or other law amended,repealed, or modified by this act as though the repeal, amendment, ormodification had not occurred, but sections 1 through 135 of this act [*]apply to

      (a)   refinancings, consolidations, and deferrals made after this acttakes effect of sales, leases, and loans whenever made;

      (b)   sales or loans made after this act takes effect pursuant to open endcredit entered into, arranged, or contracted for before this act takeseffect; and

      (c)   all credit transactions made before this act takes effect insofar asthe article on remedies and penalties (article 5) limits the remedies ofcreditors.

      History:   L. 1973, ch. 85, § 130; Jan. 1, 1974.