Section 414-483 - Savings provision(a) Except as provided in subsection (b), the repeal of a statute by this chapter does not affect: (1) The operation of the statute or any action taken under it before its repeal;(2) Any ratification, right, remedy, privilege, obligation, or liability acquired, accrued, or incurred under the statute before its repeal;(3) Any violation of the statute, or any penalty, forfeiture, or punishment incurred because of the violation, before its repeal;(4) Any proceeding, reorganization, or dissolution commenced under the statute before its repeal, and the proceeding, reorganization, or dissolution may be completed in accordance with the statute as if it had not been repealed.(b) If a penalty or punishment imposed for violation of a statute repealed by this chapter is reduced by this chapter, the penalty or punishment if not already imposed shall be imposed in accordance with this chapter.(c) Nothing in this chapter shall affect the validity of any action taken by any corporation, or shall impair or affect the validity of any provision of the articles of incorporation or bylaws adopted by any corporation, prior to July 1, 2001.Revision Note
"July 1, 2001" substituted for "the effective date of this chapter".