(a) General rule.--In relation to a corporation existing on the effective date of this chapter, the provisions of this chapter do not impair or affect an act done; offense committed; right accruing or accrued; or liability, penalty, forfeiture or punishment incurred prior to the effective date of this chapter.
(b) Contracts.--This chapter does not impair or affect a contract entered into by a corporation prior to the effective date of this chapter.
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