§ 7-6-107 — § 7-6-107. Effect of repeal of prior chapters.

§ 7-6-107. Effect of repeal of prior chapters.

(a) The repeal of a prior chapter by this chapter does not affect any right accrued or established, or any liability or penalty incurred, under the provisions of the prior chapter, prior to its repeal.

(b) The limitation formerly set forth in § 7-6-8, as amended, which is repealed hereby, and any similar limitation does not subsequently apply to any existing corporation whether created by special act of the general assembly or otherwise, even if the corporation's articles of incorporation or any special act of the general assembly contain a reference to § 7-6-8 or a recitation of the limitation previously contained in that section or any similar limitation.

(c) Each existing corporation has the powers set forth in § 7-6-5 of this chapter even if its articles of incorporation contain other or different powers or contain a reference to or recitation of the powers granted by any act at this time or subsequently repealed.

Legislative History

P.L. 1984, ch. 380, § 1; P.L. 1984, ch. 444, § 1; P.L. 1994, ch. 437, § 1; P.L. 1997, ch. 188, § 2; P.L. 2018, ch. 346, § 6.