All religious corporations or churches authorized, prior to July 1, 1941, to use or be known by a name or names including the words “Methodist Episcopal Church”, and all societies, conferences, boards, associations or other organizations directly connected therewith, are authorized to omit the word “Episcopal” from their names; and all gifts, bequests and devises to, contracts with, conveyances to or by, or other acts affecting any such religious corporation or church by either the name used by it or by which it was known before this change or the name used by it or by which it is known after this change shall be valid; and nothing contained herein shall be deemed to limit, change, affect or alter any other existing right, power, property, obligation, liability or duty of any such religious corporation or church.