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Can you summarize MNST 336.9-702?
UNIFORM COMMERCIAL CODE > SAVINGS CLAUSE.
Short Summary
This legal document pertains to transactions and liens governed by Laws 2000, chapter 399 under the Minnesota Statutes. It states that Laws 2000, chapter 399 applies to transactions or liens within its scope, even if they were entered into or created before the law takes effect. It also specifies that transactions and liens that were not governed by the former article 9, but were validly entered into or created before Laws 2000, chapter 399 takes effect, remain valid and can be terminated, completed, consummated, and enforced as required or permitted by the law. The document further clarifies that it does not affect any action, case, or proceeding commenced before Laws 2000, chapter 399 takes effect.
Whom does it apply to?
Parties involved in transactions or liens governed by Laws 2000, chapter 399
What does it govern?
Transactions and liens under Laws 2000, chapter 399
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota