(1) Savings associations formed or existing on January 1, 1976, shall not be impaired by the enactment of the Savings Association Act, by any change in the requirements for the formation of associations or by any amendment or repeal of the laws under which they were formed or created. Except as otherwise expressly provided, the Savings Association Act shall not affect any liability or penalty incurred under the provisions of such laws prior to repeal.
(2) All obligations of an existing savings association contracted prior to January 1, 1976, are enforceable by the association. Any liability, penalty, demand, claim and right of action against such an association may be enforced against it as fully and completely as it might have been enforced prior to January 1, 1976.
(3) Proceedings commenced pursuant to statutes repealed by section 152, chapter 582, Oregon Laws 1975, shall be terminated, completed or enforced pursuant to the provisions of such statutes which for such purpose shall remain in full force and effect as to such proceedings. [1975 c.582 §145]
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