[§523A-37] Effect of new provisions; clarification of application. (a) This part does not relieve a holder of a duty that arose before May 18, 1983, to report, pay, or deliver property. A holder who did not comply with the law in effect before May 18, 1983, is subject to the applicable enforcement and penalty provisions that then existed and they are continued in effect for the purpose of this subsection, subject to section 523A-29(b).

(b) The initial report filed under this part for property that was not required to be reported before May 18, 1983, but which is subject to this part shall include all items of property that would have been presumed abandoned during the ten-year period preceding May 18, 1983, as if this part had been in effect during that period. [L 1983, c 37, pt of §2]