The name of every association hereafter incorporated shall include the words “savings” and “association.” These words shall be preceded by an appropriate descriptive word or words approved by the board. An ordinal number may not be used as a single descriptive word preceding the words “savings” and “association,” unless such words are followed by the words “of ________,” the blank being filled by the name of the town, city or county in which the association has its home office. An ordinal number may be used together with another descriptive word, preceding the words “savings” and “association,” provided the other descriptive word has not been used in the corporate name of any other association in the state, in which case the suffix mentioned above is not required to be used. An ordinal number may be used together with another descriptive word, preceding the words “savings” and “association” even when such other descriptive word has been used in the corporate name of an association in the state provided the suffix “of ________,” as provided above, is also used. The suffix provided above may be used in any corporate name.