Even as they retreated from absolute power, the military refused to budge on that law, and they still have a veto on constitutional changes, so it is Htin Kyaw who took power on April 1.
But Suu Kyi has made it clear that she will be "above the president", and Htin Kyaw agrees.
"This is sister Aung San Suu Kyi's victory," he said after the parliament that was elected last year voted him in as president three weeks ago.
Suu Kyi herself made the position clear when she announced the members of the new cabinet in mid-March.
She will take four of the 18 cabinet posts, including the foreign ministry and, crucially, the newly created job of minister in the president's office.
And nobody in the NLD has any problem with the fact that she will effectively be using the 69-year-old president as a glove puppet. The question remains, however: Are the generals really letting go? They have got very rich over the past half-century of military rule, and the Burmese army's corporate domination of the economy leaves even the Egyptian army in the shade.
They are certainly not going to let any new democratic government investigate how they got so rich, or do anything to cut off the cashflow that sustains them.
They are also going to watch very closely how Suu Kyi's government handles the tricky question of negotiating ceasefires in the many military confrontations with Burma's numerous minority peoples.
The last military president, Thein Sein, tried very hard to get a "Nationwide Ceasefire Agreement", but failed. Now it is Suu Kyi's turn to try, but the army won't let her make a deal that will "damage national unity". Just what that means is unclear, but the original military takeover in 1962 was triggered by an elected civilian president's attempt to give Burma what it desperately needs: a federal system of government. The army still won't allow that.
The constitution the generals wrote gives the army a quarter of the seats in parliament, which is enough to block any constitutional change. They also created a National Defence and Security Council that can declare an emergency and suspend the elected government and six of the 11 members of the council are military officers.
If the army really wants to take back power, therefore, it still can do so quite legally, but it would face massive popular resistance. Moreover, it was patriotic generals who finally allowed the democratic transition to begin, because they recognised that half a century of military rule had turned Burma from the richest country in Southeast Asia into the poorest. If they go back into politics, they condemn their country to even more isolation and poverty.
Burma's transition still has a long way to go before, and nothing is safe yet. Even in next-door Thailand, which is far richer and became a democracy a quarter-century ago, the generals are back in power. But for the moment the Burmese media are free, the elections are honest, and the investment is flowing in.
With care and some good luck, this transformation could really succeed.
Gwynne Dyer is an independent journalist whose articles are published in 45 countries.
