§ 7-11-806 - Repeal and saving provisions. - Rhode Island Statutes

SECTION 7-11-806

   § 7-11-806  Repeal and saving provisions.– (a) Law repealed by this chapter exclusively governs a suit, action,prosecution, or proceeding that is pending or may be initiated on the basis offacts or circumstances occurring before July 12, 1990, but no civil suit oraction may be maintained to enforce any liability under the law repealed bythis chapter unless brought within the earlier of the period of limitation thatapplied when the claim for relief accrued or two (2) years after July 12, 1990.

   (b) All effective registrations under the law repealed bythis chapter, all administrative orders relating to those registrations, andall conditions imposed upon those registrations remain in effect for as long asthey would have remained in effect if this chapter had not been enacted. Theyare considered to have been filed, issued, or imposed under this chapter, butare governed by the law repealed by this chapter.

   (c) The law repealed by this chapter applies to an offer tosell or sale made within one year after July 12, 1990 pursuant to an offeringbegun in good faith before July 12, 1990 on the basis of an exemption availableunder the law repealed by this chapter.

   (d) Judicial review of all administrative orders as to whichreview proceedings have not been instituted before July 12, 1990 are governedby state administrative procedures act but no review proceeding may beinstituted unless the petition for review is filed within the earlier of theperiod of limitation that applied to a review proceeding when the order wasentered or sixty (60) days after July 12, 1990.