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This entry was published on 2014-09-22
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Effect of consolidation
Religious Corporations (RCO) CHAPTER 51, ARTICLE 10
§ 209. Effect of consolidation. The consolidated or merged corporation
shall possess all the powers of the constituent corporations and shall
have the power and be subject to the duties and obligations of a
congregation of the Jewish faith formed for like purposes under the
religious corporations law. All the rights, privileges and interests of
each of the constituent corporations, all the property, real, personal
and mixed, and all the debts due on whatever account to either of them,
and all things in action, belonging to either of them, shall be deemed
to be transferred to and vested in such new corporation without further
act or deed; and all claims, demands, property, and every other
interest, belonging to the several constituent corporations, shall be as
effectually the property of the new corporation as they were of the
constituent corporations, and the title to all real property, held or
taken by deed or otherwise under the laws of this state, vested in the
several constituent corporations shall not be deemed to revert or to be
in any way impaired by reason of the consolidation but shall be vested
in the new corporation. Any devise, bequest, gift, grant, or declaration
of trust, contained in any deed, will, or other instrument, in trust or
otherwise, made before or after such consolidation, or merger to or for
any of the constituent corporations, shall inure to the benefit of the
consolidated or merged corporation. The consolidated corporation shall
be deemed to have assumed and shall be liable for all debts and
obligations of the constituent corporations in the same manner as if
such new corporation had itself incurred such debts or obligations.