1. 1. Pre-effective-date transaction, lien, or interest. Except as provided in this part, Article 9, as amended by 2024 Iowa Acts, ch. 1023, and Article 14, as amended by 2024 Iowa Acts, ch. 1023, 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.

2. 2. Continuing validity. Except as provided in subsection 3 and sections 554.15302 through 554.15306:

   1. a. a transaction, lien, or interest in property that was validly entered into, created, or transferred before July 1, 2024, and was not governed by this chapter, but would be subject to Article 9 as amended by 2024 Iowa Acts, ch. 1023, or Article 14, as amended by 2024 Iowa Acts, ch. 1023, 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; and
   2. b. the transaction, lien, or interest may be terminated, completed, consummated, and enforced as required or permitted by 2024 Iowa Acts, ch. 1023, or by the law that would apply if 2024 Iowa Acts, ch. 1023, had not taken effect.
3. 3. Pre-effective-date proceeding. 2024 Iowa Acts, ch. 1023, does not affect an action, case, or proceeding commenced before July 1, 2024.

2024 Acts, ch 1023, §127