Insurance Law 7112 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 7111 Proof of proceedings of meeting and action of company up ARTICLE 71 Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers next SECTION 7113 Transfer of deposits to surviving or consolidated company Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7112 Vesting of property in surviving or consolidated company; assumption of liabilities Insurance (ISC) CHAPTER 28, ARTICLE 71 § 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.