12 U.S.C. § 31 — Rights and liabilities as affected by change of name
submitted 140 years ago by ch. 73 to r/title-12-BANKS-AND-BANKING · 26 words · no verdicts yet
When a national bank changes its name, nothing else about it changes. All its old debts, rights, and powers automatically pass to the bank under its new name.
This section makes sure a name change doesn't disrupt anything else about a national bank. Everything the bank had under its old name — its debts, its liabilities, its rights, and its legal powers — automatically carries over and belongs to the same bank under its new name. Nothing is lost or reset just because the name changed.
All debts, liabilities, rights, provisions, and powers of the association under its old name shall devolve upon and inure to the association under its new name.
Source credit: (May 1, 1886, ch. 73, § 3, 24 Stat. 19.)
- 1886Enacted · Act of May 1, 1886, ch. 73 · 24 Stat. 19
A history note hasn’t been published yet. The record shows enactment by ch. 73 on 1886-05-01.
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