28-9-702. SAVINGS CLAUSE. (a) 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 this act takes effect.
(b) Except as otherwise provided in subsection (c) of this section and sections 28-9-703 through 28-9-709:
(1) Transactions and liens that were not governed by former chapter 9, title 28, Idaho Code, were validly entered into or created before this act takes effect, and would be subject to this act if they had been entered into or created after this act takes effect, and the rights, duties, and interests flowing from those transactions and liens remain valid after this act takes effect; and
(2) 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.
(c) This act does not affect an action, case or proceeding commenced before this act takes effect.
History:
[28-9-702, added 2001, ch. 208, sec. 2, p. 797.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 9 - SECURED TRANSACTIONS
Section 28-9-702 - SAVINGS CLAUSE.
Section 28-9-703 - SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE.
Section 28-9-704 - SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.
Section 28-9-705 - EFFECTIVENESS OF ACTION TAKEN BEFORE EFFECTIVE DATE.
Section 28-9-707 - AMENDMENT OF PREEFFECTIVE-DATE FINANCING STATEMENT.
Section 28-9-708 - PERSONS ENTITLED TO FILE INITIAL FINANCING STATEMENT OR CONTINUATION STATEMENT.