17-5540. Same; procedure; continuation of federal association.
17-5540
17-5540. Same; procedure; continuation of federal association.
The board may provide, by regulation, for the procedure to be followed
by any such federal savings and loan association converting into an
association under this act. All the provisions regarding property and other
rights contained in this act shall apply, to the conversion of a federal
savings and loan association into an association incorporated under this
act, so that the state chartered association shall be a continuation of the
corporate entity of the converting federal association and continue to have
all of its property and rights.
History: L. 1943, ch. 133, § 118; July 1.