§ 133 — Existing cooperative corporations or associations

§ 133. Existing cooperative corporations or associations. A\ncooperative corporation or association heretofore formed under or\nsubject to a law repealed by this chapter or under article three of the\nbusiness corporations law heretofore repealed, shall continue under and\nbe subject to the provisions of this chapter as if incorporated\nhereunder; but all rights of property and by contract, which accrued\nbefore this chapter took effect, shall continue to be governed by the\nlaw under which such rights accrued. Also it may continue to use\nexisting name, type of operations, by-laws, forms of marketing\ncontracts, methods of financing and requirements as to reserves in so\nfar as valid under prior laws unless expressly contrary to the\nprovisions of this chapter.\n