In Geldert, the payee of several stolen checks settled with the payor bank in exchange for $5,000 and an assignment of the payor bank's right to indemnification against the depositary and collection banks.
Therefore, the amendatory laws provision of Minn.Stat. ยง 645.31 (1992) applies. Haluptzok v. Peyton, 355 N.W.2d 751, 753 (Minn.App. 1984). Section 645.31 provides that "new provisions shall be construed as effective only from the date when the amendment became effective."
