Corporations heretofore formed under chapter five hundred seventy of the laws of eighteen hundred ninety-five, chapter four hundred forty of the laws of nineteen hundred twenty-six, or under article twenty of the membership corporations law, are hereby continued without change of corporate status, power or obligation, under the provisions of this article.
N.Y. Rac. Pari-Mut. Wag. and Breed. Law § 220-A