HARRY HUGHES, Governor

2917

TITLES 1 THROUGH 10 OF THIS ARTICLE, AS AMENDED, PRIOR TO
THE EFFECTIVE DATE OF THIS ACT AND THIS "ACT" SHALL BE
DEEMED TO MEAN TITLES 1 THROUGH 10 OF THIS ARTICLE, AS THE
SAME SHALL EXIST UPON AND AFTER THE EFFECTIVE DATE OF THIS

ACT.

      (2) THIS ACT SHALL BECOME EFFECTIVE AT 12:01 A.M. ON

JANUARY 1, 1981.

10-106.

     THE PROVISIONS OF § 10-102 AS AMENDED SHALL CONTINUE TO
APPLY TO THIS ACT AND FOR THIS PURPOSE THE ORIGINAL CODE AND
THIS ACT SHALL BE CONSIDERED ONE CONTINUOUS STATUTE.

10-107.

      TRANSACTIONS VALIDLY ENTERED AFTER 12:01 AM ON
FEBRUARY 1, 1964, AND BEFORE THE EFFECTIVE DATE OF THIS ACT,
AND WHICH WERE SUBJECT TO THE PROVISIONS OF THE ORIGINAL
CODE AND WHICH WOULD BE SUBJECT TO THIS ACT AS AMENDED IF
THEY HAD BEEN ENTERED INTO AFTER THE EFFECTIVE DATE OF THIS
ACT AND THE RIGHTS, DUTIES, AND INTERESTS FLOWING FROM SUCH
TRANSACTIONS REMAIN VALID AFTER THE LATTER DATE AND MAY BE
TERMINATED, COMPLETED, CONSUMMATED, OR ENFORCED AS REQUIRED
OR PERMITTED BY THIS ACT. SECURITY INTERESTS ARISING OUT OF
SUCH TRANSACTIONS WHICH ARE PERFECTED WHEN THIS ACT BECOMES
EFFECTIVE SHALL REMAIN PERFECTED UNTIL THEY LAPSE AS
PROVIDED IN THIS ACT AND MAY BE CONTINUED AS PERMITTED BY
THIS ACT EXCEPT AS STATED IN § 10-109.                   

10-108.

     A SECURITY INTEREST FOR THE PERFECTION OF WHICH FILING
OR THE TAKING OF POSSESSION WAS REQUIRED UNDER THE ORIGINAL
CODE AND WHICH ATTACHED PRIOR TO THE EFFECTIVE DATE OF THIS
ACT BUT WAS NOT PERFECTED SHALL BE DEEMED PERFECTED ON THE
EFFECTIVE DATE OF THIS ACT IF THIS ACT PERMITS PERFECTION
WITHOUT SUCH FILING OR POSSESSION OR AUTHORIZES FILING IN
THE OFFICE OR OFFICES WHERE A PRIOR INEFFECTIVE FILING WAS
MADE.

10-109.

      (1) A FINANCING STATEMENT OR CONTINUATION STATEMENT
FILED PRIOR TO THE EFFECTIVE DATE OF THIS ACT, WHICH SHALL
NOT HAVE LAPSED PRIOR TO SAID EFFECTIVE DATE SHALL REMAIN
EFFECTIVE FOR THE PERIOD PROVIDED IN THE ORIGINAL CODE, BUT
NOT LESS THAN THAT PERIOD OF TIME FOR WHICH THE FILING WAS
EFFECTIVE PURSUANT TO THE ORIGINAL CODE IN EFFECT UPON THE
DATE OF SUCH PRIOR FILING.

(2) WITH RESPECT TO ANY FINANCING STATEMENT FILED
PRIOR TO THE EFFECTIVE DATE OF THIS ACT, ANY CONTINUATION OR
OTHER STATEMENT FILED ON AND AFTER THE EFFECTIVE DATE OF
THIS ACT IN RELATION TO SUCH ORIGINAL FINANCING STATEMENT
SHALL BE FILED (I.E., THE "TRANSITIONAL FILING") IN