Applicability of subchapter

This subchapter shall not apply to any contract or arrangement in existence prior to July 4, 1983, nor to any extensions or renewals thereof; except that the parties to such contract or arrangement may thereafter elect to be governed by the provisions of this subchapter. Acts 1983, No. 820, § 6; A.S.A. 1947, § 68-1811. This subchapter shall not apply to any contract or arrangement in existence prior to July 4, 1983, nor to any extensions or renewals thereof; except that the parties to such contract or arrangement may thereafter elect to be governed by the provisions of this subchapter. Acts 1983, No. 820, § 6; A.S.A. 1947, § 68-1811.