1. A processor that was in compliance with section 9H.2, Code 2001, prior to January 1, 2002, and which is in violation of section 9H.2, as amended by this Act,* shall have until June 30, 2004, to comply with section 9H.2, as amended by this Act.*
2. Notwithstanding any provision of this section, a processor shall not take an action on or after January 1, 2002, that would be in violation of section 9H.2, as amended by this Act.*
3. The two-year period that a person who holds an executive position in a processor or owes a processor a fiduciary duty and thus is deemed to be a processor as provided in section 9H.1, subsection 27, paragraph "b", shall not apply if the person held the position or owed the duty on January 1, 2002, and relinquishes the position or duty on or before June 30, 2004.
4. This section is repealed on July 1, 2006.
2002 Acts, ch 1095, §5, 11, 12
*2002 Acts, ch 1095
Legislative intent; 2002 Acts, ch 1095, §8
Section takes effect April 9, 2002, and applies retroactively to January 1, 2002; 2002 Acts, ch 1095, §11, 12
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