Conformity of existing associations

The certificate of incorporation and certificate of authority to

transact business as an association, of every association heretofore

organized under the laws of this state and existing as of January 1,

2000, shall continue in full force and effect, and the same shall be

deemed as modified to conform with this act without the adoption of

Oklahoma Statutes - Title 18. Corporations Page 21

a new certificate of incorporation or issuance of a new certificate

of authority. The contracts, obligations and liabilities of every

such association, and the contracts, notes, mortgages, investments

and other assets and rights of every kind and nature held by it, as

well as its bylaws and resolutions, shall continue in full force and

effect. Every such association and every association hereafter

incorporated shall have perpetual existence, subject to merger,

conversion or liquidation pursuant to the provisions of this act.