Statute · New York Banking Law
N.Y. Banking Law § 139 — Saving clause
N.Y. Banking Law § 139
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 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…
Citator
N.Y. Banking Law § 139 — Saving clause is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.