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Dog-faced pony soldier
Join Date: Feb 2004
Location: A Rock Surrounded by a Whole lot of Water
Posts: 34,187
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If you leave the existing panel alone there shouldn't be a problem. If you touch it or go trying to modify it, yes - they can (and usually do) require you to bring everything up to the current code. You might be able to ask for an exception - good luck.
If you're going to bother to upgrade (especially if you're planning on keeping the place), upgrade to 300A or 400A service now. The excess capacity you build in today means many more years before you have to go through this again.
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A car, a 911, a motorbike and a few surfboards
Black Cars Matter
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