70A-2a-533 - Effective date.
70A-2a-533. Effective date.
(1) Except as provided in Subsection (2), this act takes effect on July 1, 1990 and shallapply to all lease contracts that are first made or that first become effective between the parties onor after that date, but shall not apply to lease contracts first made or that first became effectiveprior to that date unless the parties thereto specifically agree in writing that the lease contract asextended, amended, modified, renewed or supplemented, shall be governed by applicable law assupplemented or amended by this act. Absent such specific agreement transactions validlyentered into before that date and the rights, duties, and interests flowing from them remain validthereafter and may be terminated, completed, consummated or enforced as though this act had nottaken effect.
(2) The amendments to Sections 70A-1-201, 70A-9-113, 70A-9-306, and 70A-9-318 takeeffect on July 1, 1990.
Enacted by Chapter 197, 1990 General Session