N.Y. U.C.C. 12-a-301

Section 12-A-301. Saving Clause.\n (a) Pre-effective-date transaction, lien, or interest. Except as\nprovided in this part, Article 9 as amended by the UCC Revision Act and\nArticle 12 apply to a transaction, lien, or other interest in property,\neven if the transaction, lien, or interest was entered into, created, or\nacquired before the effective date.\n (b) Continuing validity. Except as provided in subsection (c) and\nSections 12-A-302 through 12-A-306:\n (1) a transaction, lien, or interest in property that was validly\nentered into, created, or transferred before the effective date of the\nUCC Revision Act and was not governed by the Uniform Commercial Code,\nbut would be subject to Article 9 as amended by the UCC Revision Act or\nArticle 12 if it had been entered into, created, or transferred on or\nafter the effective date, including the rights, duties, and interests\nflowing from the transaction, lien, or interest, remains valid on and\nafter the effective date of the UCC Revision Act; and\n (2) the transaction, lien, or interest may be terminated, completed,\nconsummated, and enforced as required or permitted by the revised UCC or\nby the law that would apply if the UCC Revision Act had not taken\neffect.\n (c) Pre-effective-date proceeding. The UCC Revision Act does not\naffect an action, case, or proceeding commenced before the effective\ndate of the UCC Revision Act.\n