(1) A financing statement or continuation statement filed prior to April 1, 1978 which shall not have lapsed prior to that date shall remain effective for the period provided in the old U.C.C., but not less than five (5) years after the filing.
(2) With respect to any collateral acquired by the debtor subsequent to April 1, 1978, any effective financing statement or continuation statement described in this section shall apply only if the filing or filings are in the office or offices that would be appropriate to perfect the security interests in the new collateral under the revised U.C.C.
(3) The effectiveness of any financing statement or continuation statement filed prior to April 1, 1978 may be continued by a continuation statement as permitted by the revised U.C.C., except that if the revised U.C.C. requires a filing in an office where there was no previous financing statement, a new financing statement conforming to Section 75-11-106 shall be filed in that office.