E.__An act done before July 1, 2005 is not affected by this Code.

2.__Continued application of statute.__If a right is acquired, extinguished or barred upon the expiration of a prescribed period that has commenced to run under any other statute before July 1, 2005, that statute continues to apply to the right even if it has been repealed or superseded.

Sec. A-2. Effective date. This Part takes effect July 1, 2005.

PART B

Sec. B-1. 5 MRSA §17108, sub-§2, ¶A, as enacted by PL 1985, c. 801, §§5 and 7, is amended to read:

A. The fiduciary or registered investment advisor shall invest and reinvest the funds of the retirement system in accordance with the standards defined in Title 18-A, section 7-302 18-B, sections 802 to 807 and chapter 9. The investment and reinvestment shall be are subject to periodic review by the board.

Sec. B-2. 5 MRSA §17153, sub-§3, as enacted by PL 1985, c. 801, §§5 and 7, is amended to read:

3. Investment of funds. The board may cause the funds created by this Part to be invested and reinvested in accordance with the standards defined in Title 18-A, section 7-302 18-B, sections 802 to 807 and chapter 9, subject to periodic approval of the investment program by the board.

Sec. B-3. 13 MRSA §4106, last ¶, as enacted by PL 2001, c. 550, Pt. C, §5 and affected by §29, is amended to read:

In the administration of the powers to appropriate appreciation, to make and retain investments and to delegate investment management of institutional funds, trustees of charitable trusts are governed by the standards set forth in Title 18-A, section 7-302 18-B, sections 802 to 807 and chapter 9.

Sec. B-4. 18-A MRSA §1-302, sub-§(a), as enacted by PL 1979, c. 540, §1, is amended to read: