§ 55A-17-03. Saving provisions. - North Carolina Statutes

§55A‑17‑03.  Saving provisions.

(a)        The existence ofcorporations formed before the effective date of this Chapter, shall not beimpaired by the enactment of this Chapter nor by any change made by thisChapter in the requirements for the formation of corporations nor by anyamendment or repeal by this Chapter of the laws under which they were formed orcreated, and, except as otherwise expressly provided in this Chapter, therepeal of a prior act by this Chapter shall not affect any liability or penaltyincurred, under the provisions of such act, prior to the repeal thereof.

(b)        Any proceeding orcorporate action commenced prior to the effective date of this Chapter, may becompleted in accordance with the law then in effect. (1993,c. 398, s. 1.)