As used in this chapter, the term “new law” means this division of the Corporations Code as amended by act of the California Legislature, 1975-76 Regular Session, effective January 1, 1977, and as in effect on that date; the term “prior law” means the applicable law as in effect prior to January 1, 1977; and the term “effective date” means January 1, 1977.

(Added by Stats. 1975, Ch. 682.)