Transactions validly entered into after March 31, 1968 and before April 1, 1978, and which were subject to the provisions of the old U.C.C. and which would be subject to the amendments of Chapter 452, Laws of 1977 if they had been entered into after April 1, 1978 and the rights, duties and interests flowing from such transactions remain valid after April 1, 1978 and may be terminated, completed, consummated or enforced as required or permitted by the revised U.C.C. security interests arising out of such transactions which are perfected on April 1, 1978, shall remain perfected until they lapse as provided in the revised U.C.C., and may be continued as permitted by the revised U.C.C., except as stated in Section 75-11-105.
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