Sec. 2. The provisions of this chapter shall be applicable to banks, trust companies, corporate fiduciaries, and national banking associations acting on or after August 20, 1947, under wills, trusts, agreements, court orders, and other instruments existing or made on or after August 20, 1947.

Formerly: Acts 1947, c.115, s.2. As amended by P.L.263-1985, SEC.118; P.L.262-1995, SEC.51.