§ 564-F:19-1902 — Effects of Merger

New Hampshire § 564-F:19-1902

• Jurisdiction: New Hampshire
• Title LVI: PROBATE COURTS AND DECEDENTS' ESTATES
• Ch. 564-F: NEW HAMPSHIRE FOUNDATION ACT
• Subdivision: ARTICLE 19Merger

Text

(a) A merger under RSA 564-F:19-1901 has the following effects:
(1) Each foundation and foreign foundation that is a party to the merger shall be merged into a single foundation, which shall be the foundation designated as the surviving foundation in the certificate of merger;
(2) Each foundation and foreign foundation that is a party to the merger, except the surviving foundation, shall cease to exist;
(3) All title to real property and other property owned by each foundation and foreign foundation that is a party to the merger and all contractual rights possessed by each foundation and foreign foundation that is a party to the merger are vested in the surviving foundation without reversion or impairment; and
(4) All liabilities of each foundation and foreign foundation that is a party to the merger are vested in the surviving foundation.
(b) For each domestic foundation that is a party to a merger and is not the surviving foundation, a certificate of merger shall constitute a certificate of cancellation.

Legislative History

2017, 257:47, eff. Oct. 1, 2017.