6-466. Effect of merger
A. The continuing association or corporation shall be considered the same business and corporate entity as each merging association or corporation, with all of the property, rights, powers, duties, and obligations of each merging association or corporation, except as otherwise provided by the articles of incorporation of the continuing association or corporation.
B. All liabilities of each of the merging associations or corporations are liabilities of the continuing association or corporation. All of the rights, franchises, and interests of each of the merging associations or corporations in and to every kind of property, real, personal or mixed, shall vest automatically in the continuing association or corporation, without any deed or other transfer.
C. Any reference to a merging association or corporation in any writing, whether executed or effective before or after the merger, shall be deemed a reference to the continuing association or corporation, if not inconsistent with the other provisions of such writing.
D. No pending action or other judicial proceeding to which any merging association or corporation is a party shall be abated or discontinued by reason of the merger, but may be prosecuted to final judgment, order or decree in the same manner as if the merger had not occurred.Section: Previous 6-459 6-460 6-461 6-462 6-463 6-464 6-465 6-466 6-467 6-468 6-469 6-470 6-471 6-472 6-474 Next
Last modified: October 13, 2016