§ 5 — Application

§ 5. Application. A corporation heretofore or hereafter incorporated\nunder a general law for a purpose or purposes for which a corporation\nmay be formed under this chapter shall in respect to such purpose or\npurposes have all the powers and privileges conferred, and be subject to\nall the duties, liabilities and limitations imposed, on a corporation\norganized for such purpose or purposes under this chapter. Any\ncorporation heretofore incorporated under a general law for any one or\nmore of the purposes specified in this chapter, may exercise the powers\nnow possessed by it to carry on any business in which it now may\nlawfully engage. A corporation heretofore incorporated under or by\nspecial law for such purpose or purposes shall in respect to such\npurpose or purposes have all the powers and privileges conferred, and be\nsubject to the duties, liabilities and limitations imposed by this\nchapter, in so far as such duties, liabilities and limitations are not\ninconsistent with such special law.\n