Designation "Sparkasse"

(1) The designation "Sparkasse", or a designation containing the word "Sparkasse", may be used in the business name, as an addition to the business name, to describe the business purpose, or for advertising purposes, only by 1. public-law savings banks holding a licence under section 32; 2. other undertakings that, at the entry into force of this Act, were authorised to use such a designation under the previous provisions; 3. undertakings newly formed by the conversion of the undertakings designated in point 2, for as long as, on the basis of their articles of association, they display special characteristics to the same extent as before the conversion, in particular a public-interest-oriented purpose and a restriction of their essential business activity to the economic area in which the undertaking has its registered office.
(2) Credit institutions within the meaning of section 1 of the Building Societies Act may use the designation "Bausparkasse" (building society); registered cooperatives belonging to an auditing association may use the designation "Spar- und Darlehenskasse" (savings and loan association).