Section 139. Saving clause  


Latest version.
  • 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.