§ 28:12–202. Saving clause.

(a) Except as provided in this part, a transaction validly entered into before April 20, 2024 and the rights, duties, and interests flowing from the transaction remain valid thereafter and may be terminated, completed, consummated, or enforced as required or permitted by law other than this subtitle or, if applicable, this subtitle, as though the 2024 Act had not taken effect.

(b) Except as provided in this part,Article 9, as amended by the 2024 Act, and Article 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 April 20, 2024.

(1) A transaction, lien, or interest in property that was validly entered into, created, or transferred before April 20, 2024 and was not governed by this subtitle, but would be subject to Article 9 as amended by the 2024 Act or Article 12 if it had been entered into, created, or transferred on or after April 20, 2024, including the rights, duties, and interests flowing from the transaction, lien, or interest, remains valid on and after April 20, 2024; and

(2) The transaction, lien, or interest may be terminated, completed, consummated, and enforced as required or permitted by the 2024 Act or by the law that would apply if the 2024 Act had not taken effect.

(d) The 2024 Act does not affect an action, case, or proceeding commenced before April 20, 2024.