What is the correct information regarding the grandfather rule for expats in Thailand since 2008?

I deleted a post that linked to an article in the Phuket News that has BAD information on it.

It had mistakenly stated that people here from 2008 onward would be grandfathered in. :o THAT IS FALSE....

The real rule grandfather rule is ONLY for people who have been here continually since Oct 21 1998 on unbroken yearly extensions of stays.

They had to be either 55-60 <- when they showed 500K baht in the bank or 50K baht in income

OR

were over 60 <- when they showed 200K baht in the bank or 20K baht in income.

PLUS they have had to been on unbroken extensions of stays since then to use this option.