California Code, Commercial Code - COM § 17301

(1) A transaction, lien, or interest in property that was validly entered into, created, or transferred before the effective date of the act adding this division and was not governed by this code, but would be subject to Division 9 (commencing with Section 9101), as amended by the act adding this division, or Division 12 if it had been entered into, created, or transferred on or after the effective date of the act adding this division, including the rights, duties, and interests flowing from the transaction, lien, or interest, remains valid on and after the effective date of the act adding this division.

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