Section 9702 - Savings clause(a) Except as otherwise provided in this chapter, this division applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this division takes effect.(b) Except as otherwise provided in subdivision (c) and in Sections 9703 to 9709, inclusive, both of the following rules apply:(1) Transactions and liens that were not governed by former Division 9, were validly entered into or created before July 1, 2001, and would be subject to this act if they had been entered into or created after July 1, 2001, and the rights, duties, and interests flowing from those transactions and liens remain valid after July 1, 2001.(2) The transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this division or by the law that otherwise would apply if this division had not taken effect.(c) This division does not affect an action, case, or proceeding commenced before July 1, 2001.Amended by Stats 2000 ch 1003 (SB 2002), s 48, eff. 1/1/01, operative 7/1/01..Added October 10, 1999 (Bill Number: SB 45) (Chapter 991).