This act takes effect on July 1, 2001. References in this part 7 to "this act" refer to the repealed and reenacted article 9 of this title as contained in Senate Bill 01-240, enacted at the first regular session of the sixty-third general assembly. References in this part 7 to "former article 9" are to article 9 of this title as in effect immediately before July 1, 2001.
Source: L. 2001: Entire article R&RE, p. 1423, § 1, effective July 1.
Editor's note - Colorado legislative change: The uniform act (e) states: "This act takes effect on July 1, 2001."
A uniform law as complex as Article 9 necessarily gives rise to difficult problems and uncertainties during the transition to the new law. As is customary for uniform laws, this Article is based on the general assumption that all States will have enacted substantially identical versions. While always important, uniformity is essential to the success of this Article. If former Article 9 is in effect in some jurisdictions, and this Article is in effect in others, horrendous complications may arise. For example, the proper place in which to file to perfect a security interest (and thus the status of a particular security interest as perfected or unperfected) would depend on whether the matter was litigated in a State in which former Article 9 was in effect or a State in which this Article was in effect. Accordingly, this section contemplates that States will adopt a uniform effective date for this Article. Any one State's failure to adopt the uniform effective date will greatly increase the cost and uncertainty surrounding the transition.
Other problems arise from transactions and relationships that were entered into under former Article 9 or under non-UCC law and which remain outstanding on the effective date of this Article. The difficulties arise primarily because this Article expands the scope of former Article 9 to cover additional types of collateral and transactions and because it provides new methods of perfection for some types of collateral, different priority rules, and different choice-of-law rules governing perfection and priority. This Section and the other sections in this Part address primarily this second set of problems.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 9 - Secured Transactions
§ 4-9-703. Security Interest Perfected Before Effective Date
§ 4-9-704. Security Interest Unperfected Before Effective Date
§ 4-9-705. Effectiveness of Action Taken Before Effective Date
§ 4-9-707. Amendment of Pre-Effective-Date Financing Statement
§ 4-9-708. Persons Entitled to File Initial Financing Statement or Continuation Statement
§ 4-9-710. Effectiveness of Filing in Clerk and Recorders' Offices