How does date effective CreateNewTimePeriod work

Two different descriptions of CreateNewTimePeriod update mode lead me to the question - how does it actually work?

Description 1 (msdn)
When you change a field value from a valid time state table, the current record in the table is closed and a new record is created. The current date, or current date and time, populate the ValidTo field of the closed record and the ValidFrom field of the new record.

Description 2 (Inside Microsoft Dynamics AX 2012)
The date-effective framework creates a new record with updated values, and updates the ValidTo of the edited record to a value of ValidFrom -1 of the newly inserted record.

Problem description
What sequence of methods is used in CreateNewTimePeriod update mode?

Steps
1. Open DirPartyTable form
2. Add a new address
3. Modify the address

Hints
Add infolog messages to insert and update methods of LogisticsPostalAddress table.