6.1-34 - (Repealed effective October 1, 2010) New bank considered same business and corporate entity as old; reference to latter in contract, will or document.
§ 6.1-34. (Repealed effective October 1, 2010) New bank considered samebusiness and corporate entity as old; reference to latter in contract, willor document.
Upon the conversion of a national banking association to a state bank, asprovided in §§ 6.1-33 and 6.1-38 the state bank shall be considered to be thesame business and corporate entity as the former national banking associationbut with rights, powers and duties as prescribed by state law. Any referenceto the former national banking association in any contract, will or documentshall be considered and construed as a reference to the state bank if notinconsistent with the provisions of the contract, will or document or withapplicable law.
(Code 1950, § 6-15.2; 1952, c. 571; 1966, c. 584.)