Section 22716 - Preexisting lawful contract not affected(a) The revocation, suspension, expiration, or surrender of any license does not impair or affect the obligation of any preexisting lawful contract between the licensee and any borrower or property owner, nor the validity and enforceability of any bonds issued and secured by those contracts. This division does not affect the validity and enforceability of any PACE assessment contracts entered into or bonds issued and secured by those contracts.(b) This section shall become operative on January 1, 2019.Amended by Stats 2018 ch 813 (AB 2063),s 14, eff. 1/1/2019.Amended by Stats 2018 ch 798 (SB 1087),s 14, eff. 1/1/2019.Added by Stats 2017 ch 475 (AB 1284),s 83, eff. 10/4/2017.