409.7-703. Application of act to existing proceedings and existing rights and duties. - Missouri Statutes

Application of act to existing proceedings and existing rights andduties.

409.7-703. (a) The predecessor act exclusively governs all actionsor proceedings that are pending on September 1, 2003, or may be institutedon the basis of conduct occurring before September 1, 2003, but a civilaction may not be maintained to enforce any liability under the predecessoract unless instituted within any period of limitation that applied when thecause of action accrued or within five years after September 1, 2003,whichever is earlier.

(b) All effective registrations under the predecessor act, alladministrative orders relating to the registrations, rules, statements ofpolicy, interpretative opinions, declaratory rulings, no actiondeterminations, and conditions imposed on the registrations under thepredecessor act remain in effect while they would have remained in effectif this act had not been enacted. They are considered to have been filed,issued, or imposed under this act, but are exclusively governed by thepredecessor act.

(c) The predecessor act exclusively applies to an offer or sale madewithin one year after September 1, 2003, pursuant to an offering made ingood faith before September 1, 2003, on the basis of an exemption availableunder the predecessor act.

(L. 2003 H.B. 380)

Effective 9-01-03