Section 520. Savings clause

Nothing  in  this article contained shall be
  deemed to require the  reincorporation  of  any  corporation  heretofore
  organized under the provisions of article seven of chapter three hundred
  and  sixty-nine  of  the laws of nineteen hundred fourteen, entitled "An
  act in relation to banking corporations, and individuals,  partnerships,
  unincorporated  associations  and  corporations under the supervision of
  the banking department," constituting chapter two  of  the  consolidated
  laws,  or under the provisions of said article seven of said chapter two
  of the consolidated laws, or under the provisions of said article  seven
  of  said  chapter  as  amended,  nor  to  alter  or  affect  any rights,
  privileges, powers, benefits, or immunities granted to such corporations
  by the provisions of any law of this state. Such corporations shall have
  all of the rights, privileges, powers, benefits and immunities  provided
  by  any  laws of this state with the same effect as if such corporations
  were referred to in such laws as organized under this  article;  and  no
  further  amendment  to  any  such  laws  shall  be required to give such
  corporations such rights, privileges, powers, benefits  and  immunities.
  Except  as in this article otherwise provided such corporations shall be
  subject to all of the obligations and  duties  of  investment  companies
  organized  under  the  provisions of this article, and such corporations
  shall  have  all  of  the  rights,  privileges,  powers,  benefits   and
  immunities by this article granted to such companies.