(810 ILCS 5/11-103)
(from Ch. 26, par. 11-103)
Transition to Amendatory Act of 1972; General Rule.
Transactions validly entered into after July 1, 1962 and before July 1,
1973 and which were subject to the provisions of the "Uniform Commercial
Code", approved July 31, 1961, as amended, and which would be subject to
this amendatory Act of 1972 if they had been entered into after July 1,
1973 and the rights, duties and interest flowing from such transactions
remain valid after the latter date, and may be terminated, completed,
consummated or enforced as required or permitted by this amendatory Act of
1972. Security interests arising out of such transactions which are
perfected when this amendatory Act of 1972 becomes effective shall remain
perfected until they lapse as provided in this amendatory Act of 1972, and
may be continued as permitted by this amendatory Act of 1972, except as
stated in Section 11-105.
(Source: P.A. 78-238.)