An individual holding a valid Utah license as a contract security company, armed private security officer, or unarmed private security officer under Title 53, Chapter 5, Part 4, Security Personnel Licensing and Regulation Act, on July 1, 1995, is:
(1) on or after July 1, 1995, considered to hold a current license under this chapter in the comparable classification of contract security company, armed private security officer, or unarmed private security officer; and
(2) subject to this chapter.