Section 107. Pending actions and proceedings

This chapter shall not affect
  any  action  or proceeding, civil or criminal, brought by or against the
  transit commission, or the  former  transit  construction  commissioner,
  public  service commission for the first district, or the board of rapid
  transit railroad commissioners in respect of rights, powers, duties  and
  obligations   transferred   to   and   conferred   upon   the  board  of
  transportation; but such action  or  proceeding  may  be  prosecuted  or
  defended   in  the  name  of  the  board  of  transportation  and,  upon
  application  to  the  court,  the  board  of  transportation  shall   be
  substituted  as  a  party  in  such  pending  action  or proceeding. Any
  investigation,  examination  or  hearing,   undertaken,   commenced   or
  instituted  by  the  transit  commission  or  the  transit  construction
  commissioner or the public service commission for the first district  or
  the  board  of rapid transit railroad commissioners before the time this
  article takes effect, and relating to a subject or  matter  jurisdiction
  whereof was transferred to the board of transportation, may be conducted
  to final determination by the board of transportation.