(1) All claims arising out of the death or personal injury of any person resulting from the negligence of any street railway or railroad organized and doing business under the laws of this state, after a judgment is obtained, shall constitute a lien upon all of the assets and property of the street railway or railroad and all of its rights and franchises. This lien shall take precedence over all other judgments, executions, or attachments levied upon the assets or property, except those issued in favor of persons having obtained judgments for personal work and labor of themselves or their minor children.

  (2) Any lien obtained under former Act No. 110 of the Public Acts of 1899 and in effect on the effective date of this act shall remain in full force and effect until discharged.