17-1639.When mergers effective; rights and liabilities to surviving
association.
No merger or consolidation shall become effective under this
act until all corporate fees and taxes due to or assessable by the state have
been paid by the constituent associations or corporations. Any fees or taxes
which become due to or assessable by the state with respect to any such
constituent, subsequent to the merger or consolidation, shall become the debt
of the resulting or surviving association or corporation. When any merger or
consolidation shall have become effective under this act, for all purposes of
the laws of this state the separate existence of all constituent associations
or corporations, or of all such constituents except the one into which the
other or others of such constituents have been merged, shall cease and the
constituents shall become a new association or corporation, or be merged into
one of such associations or corporations, possessing all rights, privileges,
powers and franchises of a public as well as of a private nature.
Such associations or corporations shall be subject to all the restrictions,
disabilities and duties of each of such associations or corporations so merged
or consolidated. The rights, privileges, powers and franchises of each of such
associations or corporations; property, real, personal and mixed; debts due
to any of such constituents on whatever account; and stock subscriptions as all
other things in action or belonging to each of such associations or
corporations shall be vested in the association or corporation surviving or
resulting from such merger or consolidation. All property, rights, privileges,
powers and franchises, and every other interest shall be thereafter as
effectually the property of the surviving or resulting association or
corporation as such associations or corporations were of the several and
respective constituents, and the title to any real estate vested by deed or
otherwise, under the laws of this state, in any of such constituents, shall not
revert or be in any way impaired by reason of this act. All rights of creditors
and all liens upon this property of any of such constituents shall be preserved
unimpaired, and all debts, liabilities and duties of the respective
constituents shall attach
to such surviving or resulting association or corporation, and may be enforced
against the
association or corporation to the same extent as if such debts, liabilities and
duties had
been incurred or contracted by the association or corporation.
17-1639.When mergers effective; rights and liabilities to surviving
association.
No merger or consolidation shall become effective under this
act until all corporate fees and taxes due to or assessable by the state have
been paid by the constituent associations or corporations. Any fees or taxes
which become due to or assessable by the state with respect to any such
constituent, subsequent to the merger or consolidation, shall become the debt
of the resulting or surviving association or corporation. When any merger or
consolidation shall have become effective under this act, for all purposes of
the laws of this state the separate existence of all constituent associations
or corporations, or of all such constituents except the one into which the
other or others of such constituents have been merged, shall cease and the
constituents shall become a new association or corporation, or be merged into
one of such associations or corporations, possessing all rights, privileges,
powers and franchises of a public as well as of a private nature.
Such associations or corporations shall be subject to all the restrictions,
disabilities and duties of each of such associations or corporations so merged
or consolidated. The rights, privileges, powers and franchises of each of such
associations or corporations; property, real, personal and mixed; debts due
to any of such constituents on whatever account; and stock subscriptions as all
other things in action or belonging to each of such associations or
corporations shall be vested in the association or corporation surviving or
resulting from such merger or consolidation. All property, rights, privileges,
powers and franchises, and every other interest shall be thereafter as
effectually the property of the surviving or resulting association or
corporation as such associations or corporations were of the several and
respective constituents, and the title to any real estate vested by deed or
otherwise, under the laws of this state, in any of such constituents, shall not
revert or be in any way impaired by reason of this act. All rights of creditors
and all liens upon this property of any of such constituents shall be preserved
unimpaired, and all debts, liabilities and duties of the respective
constituents shall attach
to such surviving or resulting association or corporation, and may be enforced
against the
association or corporation to the same extent as if such debts, liabilities and
duties had
been incurred or contracted by the association or corporation.
17-1639.When mergers effective; rights and liabilities to surviving
association.
No merger or consolidation shall become effective under this
act until all corporate fees and taxes due to or assessable by the state have
been paid by the constituent associations or corporations. Any fees or taxes
which become due to or assessable by the state with respect to any such
constituent, subsequent to the merger or consolidation, shall become the debt
of the resulting or surviving association or corporation. When any merger or
consolidation shall have become effective under this act, for all purposes of
the laws of this state the separate existence of all constituent associations
or corporations, or of all such constituents except the one into which the
other or others of such constituents have been merged, shall cease and the
constituents shall become a new association or corporation, or be merged into
one of such associations or corporations, possessing all rights, privileges,
powers and franchises of a public as well as of a private nature.
Such associations or corporations shall be subject to all the restrictions,
disabilities and duties of each of such associations or corporations so merged
or consolidated. The rights, privileges, powers and franchises of each of such
associations or corporations; property, real, personal and mixed; debts due
to any of such constituents on whatever account; and stock subscriptions as all
other things in action or belonging to each of such associations or
corporations shall be vested in the association or corporation surviving or
resulting from such merger or consolidation. All property, rights, privileges,
powers and franchises, and every other interest shall be thereafter as
effectually the property of the surviving or resulting association or
corporation as such associations or corporations were of the several and
respective constituents, and the title to any real estate vested by deed or
otherwise, under the laws of this state, in any of such constituents, shall not
revert or be in any way impaired by reason of this act. All rights of creditors
and all liens upon this property of any of such constituents shall be preserved
unimpaired, and all debts, liabilities and duties of the respective
constituents shall attach
to such surviving or resulting association or corporation, and may be enforced
against the
association or corporation to the same extent as if such debts, liabilities and
duties had
been incurred or contracted by the association or corporation.