Time of association’s cessation as federal association; time of vesting of property in association under new name and style. Upon the filing of the articles of incorporation with the Secretary of State, the association ceases to be a federal savings and loan association and thereafter is a savings and loan association. All of the property of the association, including all of its right, title and interest in and to all property of every kind and character, whether real, personal or mixed, immediately by operation of law, without any conveyance or transfer and without any further act or deed, vests in the association under its new name and style as a savings and loan association, and under its new jurisdiction.
Last modified: February 26, 2006