Oregon Revised Statutes Chapter 80 § 80.1010 — to 80.1070, that law governs even if the matter or a transaction to

to 80.1070, that law governs even if the matter or a transaction to which the matter relates does not bear any relation to the controllable electronic record’s jurisdiction. (6) The rights acquired under ORS 80.1040 by a purchaser or qualifying purchaser are governed by the law applicable under this section at the time of purchase. [2025 c.33 §100] (Temporary provisions relating to transitional matters, applicability and effective dates of amendments to the Uniform Commercial Code) Note: Sections 108 to 115, chapter 33, Oregon Laws 2025, provide: Sec. 108. (1) As used in sections 108 to 115 of this 2025 Act: (a) “Adjustment date” means the date that is one year after the effective date of this 2025 Act [January 1, 2026]. (b) “Article 12 property” means a controllable account, controllable electronic record or controllable payment intangible. (2) The following definitions in other chapters of the Uniform Commercial Code apply to sections 108 to 115 of this 2025 Act: (a) “Controllable account”: ORS 79.0102 [renumbered 79A.1020]. (b) “Controllable electronic record”: section 95 of this 2025 Act [80.1020]. (c) “Controllable payment intangible”: ORS 79.0102 [renumbered 79A.1020]. (d) “Electronic money”: ORS 79.0102 [renumbered 79A.1020]. (e) “Financing statement”: ORS 79.0102 [renumbered 79A.1020]. (3) ORS chapter 79 [renumbered ORS chapter 79A] contains general definitions and principles of construction applicable throughout sections 108 to 115 of this 2025 Act. [2025 c.33 §108] Sec. 109. Except as provided in sections 108 to 115 of this 2025 Act, a transaction validly entered into before the effective date of this 2025 Act [January 1, 2026] and the rights, duties and interests flowing from the transaction remain valid thereafter and may be terminated, completed, consummated or enforced as required or permitted by law other than the Uniform Commercial Code or, if applicable, by the Uniform Commercial Code as though this 2025 Act had not taken effect. [2025 c.33 §109] Sec. 110. (1) Except as provided in sections 108 to 115 of this 2025 Act [January 1, 2026], ORS chapter 79 [renumbered ORS chapter 79A] and sections 94 to 100 of this 2025 Act [80.1010 to 80.1070], apply to a transaction, lien or other interest in property even if the transaction, lien or interest was entered into, created or acquired before the effective date of this 2025 Act [January 1, 2026]. (2) Except as provided in subsection (3) of this section and sections 108 to 115 of this 2025 Act: (a) A transaction, lien or interest in property that was validly entered into, created or transferred before the effective date of this 2025 Act and was not governed by the Uniform Commercial Code, but would be subject to ORS chapter 79 [renumbered ORS chapter 79A] and sections 94 to 100 of this 2025 Act if it had been entered into, created or transferred on or after the effective date of this 2025 Act, including the rights, duties and interests flowing from the transaction, lien or interest, remains valid on and after the effective date of this 2025 Act; and (b) The transaction, lien or interest may be terminated, completed, consummated and enforced as required or permitted under this 2025 Act or by the law that would apply if this 2025 Act had not taken effect. (3) This 2025 Act does not affect an action, case or proceeding commenced before the effective date of this 2025 Act. [2025 c.33 §110] Sec. 111. (1) A security interest that is enforceable and perfected immediately before the effective date of this 2025 Act [January 1, 2026] is a perfected security interest under this 2025 Act if, on the effective date of this 2025 Act, the requirements for enforceability and perfection under this 2025 Act are satisfied without further action. (2) If a security interest is enforceable and perfected immediately before the effective date of this 2025 Act but the requirements for enforceability and perfection under this 2025 Act are not satisfied on the effective date of this 2025 Act, the security interest: (a) Is a perfected security interest until the earlier of the time perfection would have ceased under the law in effect immediately before the effective date of this 2025 Act or the adjustment date; (b) Remains enforceable thereafter only if the security interest satisfies the requirements for enforceability under ORS 79.0203 [renumbered 79A.2030] before the adjustment date; and (c) Remains perfected thereafter only if the requirements for perfection under this 2025 Act are satisfied before the time specified in paragraph (a) of this subsection. [2025 c.33 §111] Sec. 112. A security interest that is enforceable immediately before the effective date of this 2025 Act [January 1, 2026] but is unperfected at that time: (1) Remains an enforceable security interest until the adjustment date; (2) Remains enforceable thereafter if the security interest becomes enforceable under ORS 79.0203 [renumbered 79A.