At my alma mater, there are a few chapters that were once one fraternity (NIC) and are now another.
For instance, Lambda Chi Alpha was kicked off of our campus and their national charter revoked. They went Alpha Chi Lambda for a couple of years, and then, went back to being national with ACACIA, of which I think they aren't recognized now, but still are using ACACIA. At homecoming and alumni weekends, banners on their house always read welcome back LXA, AXL and ACACIA alumni.
Secondly, Theta Chi was kicked off campus and their national charter revoked. They became Theta Chi Lambda for a few years, and then went back to being national with Alpha Tau Omega.
It happens. I don't know how it works with initiated members of other NIC fraternities.
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