The following acts and parts of acts are repealed:
    (a) Act No. 108 of the Public Acts of 1939, as amended, being section 550.301 to 550.316 of the Compiled Laws of 1970.

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    (b) Act No. 109 of the Public Acts of 1939, as amended, being section 550.501 to 550.517 of the Compiled Laws of 1970.