9-1605.   Mode of transfer of property.In the event of the merger or consolidation of any bank or trust companythe successor consolidated bank or trust company shall become the owner of,and entitled to the possession of all rights, franchises, and interests,real estate and personal property as is covered by the merger orconsolidation agreement without the necessity of the execution or deliveryof a deed or other form of transfer. Such successor corporation thereaftershall have authority to act as trustee, executor, administrator, or in anyfiduciary capacity in which any merging or consolidating bank or trustcompany was acting at the time of such merger or consolidation.

      History:   L. 1947, ch. 102, § 81; June 30.