(a) Except as provided in this section, chapter 57A-9 as amended by SL 2024, ch 198 and chapter 57A-12, apply to a transaction, lien, or other interest in property, even if the transaction, lien, or interest was entered into, created, or acquired before July 1, 2024.
(b) Except as provided in subsection (c) and §§ 57A-13-302 to 57A-13-306, inclusive:
(1) A transaction, lien, or interest in property that was validly entered into, created, or transferred before July 1, 2024, and was not governed by title 57A, but would be subject to chapter 57A-9 as amended by SL 2024, ch 198 or chapter 57A-12, if it had been entered into, created, or transferred on or after July 1, 2024, including the rights, duties, and interests flowing from the transaction, lien, or interest, remains valid on and after July 1, 2024;
(2) The transaction, lien, or interest may be terminated, completed, consummated, and enforced as required or permitted by SL 2024, ch 198 or by the law that would apply if SL 2024, ch 198 had not taken effect.
(c) SL 2024, ch 198 does not affect an action, case, or proceeding commenced before July 1, 2024.