This law section states that any amendments made to this part of the legal code by the specific act that introduced this chapter will take effect starting July 1, 2014.

This section says that if you have a business deal or legal claim that falls under this specific part of the law, the updates made to the rules apply even if those deals or claims were made before July 1, 2014. However, if a lawsuit or legal process started before that date, the changes don't impact it.

This law deals with security interests, which is a legal claim on collateral. If a security interest was already perfected (made legally binding) before July 1, 2014, then it is still considered perfected under the new rules starting that date, as long as it meets certain updated requirements without needing further steps. However, if the updated requirements are not met by July 1, 2014, the security interest must comply with the new rules by July 1, 2015, to remain perfected.

If a security interest wasn't fully protected by law before July 1, 2014, it automatically became protected on that date as long as it met the updated legal requirements. If it met the requirements after July 1, 2014, it would become protected once those were satisfied.

This law explains how certain rules about financing statements and security interests changed in 2014. If a financing statement was filed before July 1, 2014, it remains valid, but how long it stays effective can depend on when or where it was filed. Statements filed in California stop being effective as they would have under the old rules, and if filed elsewhere, they expire either under that jurisdiction's law or by June 30, 2018, whichever comes first. Continuation statements ensure ongoing effectiveness but must align with specific laws and must be filed at the right time after July 1, 2014. Rules apply differently for cases involving utilities and trusts.

If you filed a financing statement before July 1, 2014, in a different state's office, you can keep it effective by filing a new one in the right California office. This new filing can keep the first statement valid if certain conditions are met. It must comply with the current law's requirements, specify where and when the original was filed, and confirm the original is still valid. Whether you file the new one before or after July 1, 2014, affects how long it stays valid.

This law lays out the rules for handling financing statements that were filed before July 1, 2014, referred to as 'preeffective-date financing statements.' After this date, any changes to these statements, such as adding or removing collateral, extending their term, or terminating them, must follow the laws of the jurisdiction that now governs these statements. If California law is the governing law, amendments to such financing statements can occur under certain conditions, mainly involving proper filing in specific offices. Additionally, the effectiveness of these preeffective statements can continue or be terminated under specific guidelines, and termination requires a termination statement filed in the appropriate office.

If you need to file a financing statement or keep one valid under the rules discussed here, you must have approval from the secured party of record. This filing could be necessary if you want to keep a financing statement active, especially if it was filed before July 1, 2014, or to ensure your security interest remains properly documented and recognized.

This law explains that when there are conflicting claims on collateral (property or assets used to secure a loan), the new rules set out by this law determine which claim takes priority. However, if the priority of these claims was already decided before July 1, 2014, the old rules will still apply to those cases.