Section 17:16C-58.1 - Date of application of act; validity of transactions prior to effective date of act(a) The provisions of this act relating to retail charge accounts shall apply to such accounts in existence on the effective date of this act.(b) Nothing in this act shall be construed to make invalid any retail charge account or retail installment contract, or any transaction thereunder, made prior to the effective date of this act.L.1971, c.409, s.18; amended by L.1972, c.14, s.2, eff. 4/19/1972.