(a) No suit, action or other proceeding, judicial or administrative, lawfully commenced, or which could have been commenced, by or against the office of the securities commissioner of Kansas abolished by this act, or by or against any officer or employee of the state in the official capacity of such officer or employee, or in relation to the discharge of any official duties of such officer or employee, shall abate by reason of the taking effect of this act. The court may allow any such suit, action or other proceeding to be maintained by or against the successor of the office of the securities commissioner of Kansas abolished by this act, or any officer or employee affected.

(b) No criminal action commenced or which could have been commenced by the state shall abate by the taking effect of this act.