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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
in plain englishAI-generated · not legal advice
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.
the actual law source: uscode.house.gov ↗public domain
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.)
history & why it existsrecord from the source credit
- 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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