District of Columbia § 26-1352 Trust companies to have perpetual succession.

District of Columbia Statutes

§ 26-1352 — Trust companies to have perpetual succession.

District of Columbia·Title 26 Banks and Other Financial Institutions.·Ch. 13 Trust, Loan, Mortgage, Safe Deposit and Title Corporations.·Subch. II Existing Trust Companies; Perpetual Succession of Trust Companies.

Any company transacting the business of a trust company and heretofore or hereafter organized or operating under the provisions of this chapter, but before April 11, 1986, shall have perpetual succession from the date of its organization, or until such time as it be dissolved, or until its franchise shall become forfeited by reason of violation of law, or until terminated by either a general or special act of Congress, or until its affairs be placed in the hands of a receiver and finally wound up by him.

Free access — add to your briefcase to read the full text and ask questions with AI

Any company transacting the business of a trust company and heretofore or hereafter organized or operating under the provisions of this chapter, but before April 11, 1986, shall have perpetual succession from the date of its organization, or until such time as it be dissolved, or until its franchise shall become forfeited by reason of violation of law, or until terminated by either a general or special act of Congress, or until its affairs be placed in the hands of a receiver and finally wound up by him.

District of Columbia § 26-1352 (Trust companies to have perpetual succession.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Mar. 3, 1901, 31 Stat. 1289, ch. 854, § 641; June 24, 1936, 49 Stat. 1898, ch. 743; Nov. 23, 1985, D.C. Law 6-63, § 106(a)(1); as added Apr. 11, 1986, D.C. Law 6-107, § 2(k), 33 DCR 1168