(1) The provisions of this subchapter shall apply to all contracts which have no expiration date and are continuing contracts and all other contracts entered into or renewed after July 1, 1979.
(2) Any contract in force and effect on June 1, 1977, which by its own terms will terminate on a date subsequent thereto, shall be governed by the law as it existed prior to this subchapter.
(3) The provisions of this subchapter shall apply only to inventory purchased after April 10, 1979.
(4) This subchapter is not intended and shall not be construed to repeal any provision of the Arkansas Franchise Practices Act, § 4-72-201 et seq.