(a) Pre-effective-date transaction, lien, or interest. Except as provided in this part, chapter 9 of this title as amended by the amendatory act and chapter 12 of this title apply to a transaction, lien, or other interest in property, even if the transaction, lien, or interest was entered into, created, or acquired before January 1, 2024. (b) Continuing validity. Except as provided in subsection (c) of this section and § 6A-11-302 through § 6A-11-306: (1) A transaction, lien, or interest in property that was validly entered into, created, or transferred before January 1, 2024 and was not governed by this title, but would be subject to chapter 9 of this title as amended by the amendatory act or chapter 12 of this title if it had been entered into, created, or transferred on or after January 1, 2024, including the rights, duties, and interests flowing from the transaction, lien, or interest, remains valid on and after January 1, 2024; and (2) The transaction, lien, or interest may be terminated, completed, consummated, and enforced as required or permitted by the amendatory act or by the law that would apply if the amendatory act had not taken effect. on, lien, or interest may be terminated, completed, consummated, and enforced as required or permitted by the amendatory act or by the law that would apply if the amendatory act had not taken effect. (c) Pre-effective-date proceeding. The amendatory act does not affect an action, case, or proceeding commenced before January 1, 2024. History of Section.P.L. 2024, ch. 65, § 12, effective June 10, 2024; P.L. 2024, ch. 66, § 12, effective June 10, 2024.
Rhode Island Legal Code