Section 66

The certificate of incorporation vests in such body corporate all property, movable or immovable of any description, belonging to or held by any person in trust for the body or association of persons, and thereupon any person in whose name any stocks, funds or securities are standing in trust for the body or association of persons, must transfer the same into the name of the body corporate.

All covenants and conditions relating to any such immovable property enforceable by or against the trustees before their incorporation are enforceable to the same extent and by the same means by or against them after their incorporation.