Legislation

Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 139
Saving clause
Banking (BNK) CHAPTER 2, ARTICLE 3
§ 139. Saving clause. All banks which shall have been authorized by
the superintendant to exercise fiduciary powers pursuant to this
chapter, as from time to time in effect, shall be known as trust
companies subject to the provisions of this article applicable to trust
companies, but nothing contained in this chapter shall require any such
bank to change its name to include the term "trust company". All trust
companies organized under or subject to the provisions of this chapter,
as from time to time in effect, shall be subject to all the provisions
of this article applicable to trust companies. Notwithstanding any other
provision or law, a corporation formed under this article to acquire the
banking business previously done by a partnership doing business
pursuant to this chapter may have as its corporate name the name under
which such partnership did business, with the addition of a word or
words, indicating that it is a corporation.