§ 7112. Vesting of property in surviving or consolidated company;
assumption of liabilities. Upon the merger or consolidation of any
companies in the manner herein provided, all the rights, franchises and
interests of the constituent companies, in and to every species of
property, real, personal and mixed, and things in action thereunto
belonging, shall be deemed as transferred to and vested in the surviving
or consolidated company, without any other deed or transfer; and
simultaneously therewith such surviving or consolidated company shall be
deemed to have assumed all of the liabilities of the constituent
companies.