(a) Except as provided in subsection (b), the repeal of a statute by this part does not affect: (1) The operation of the statute or any action taken under it before its repeal;(2) Any ratification, right, remedy, privilege, obligation or liability acquired, accrued or incurred under the statute before its repeal;(3) Any violation of the statute or any penalty, forfeiture or punishment incurred because of the violation, before its repeal; or(4) Any proceeding, reorganization or dissolution commenced under the statute before its repeal and the proceeding, reorganization or dissolution may be completed in accordance with the statute as if it had not been repealed.(b) If a penalty or punishment imposed for violation of a statute repealed by this part is reduced by this part, the penalty or punishment if not already imposed shall be imposed in accordance with this part.Acts 1992, ch. 698, § 1; T.C.A., § 48-3-635.