All property of every kind belonging to or in the possession of the Commission immediately prior to July 1, 1975 is not abated, but is continued in the name of the Commission herein continued with the same effect as if so originally brought or begun. All subsisting liabilities, obligations, contracts, claims, or demands at law or in equity accrued or to accrue against the Commission or in favor of the Commission without further formality or action of any kind shall be and become on July 1, 1975 the liabilities, obligations, contracts, claims, or demands at law or in equity of the Commission herein continued. No criminal action, prosecution, or indictment arising under the laws of the Commission at any time prior to July 1, 1975 is affected by the enactment of this article. Any such criminal action, prosecution, or indictment shall be prosecuted under the laws in force prior to July 1, 1975.