New York § 7112 Vesting of property in surviving or consolidated company; assumption of liabilities

New York Statutes

§ 7112 — Vesting of property in surviving or consolidated company; assumption of liabilities

New York § 7112

Law ISCInsurance

Art. 71Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers

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Bluebook

N.Y. Insurance § 7112 (2026).

Text

  § 7112. Vesting of property in surviving or consolidated company;\nassumption of liabilities. Upon the merger or consolidation of any\ncompanies in the manner herein provided, all the rights, franchises and\ninterests of the constituent companies, in and to every species of\nproperty, real, personal and mixed, and things in action thereunto\nbelonging, shall be deemed as transferred to and vested in the surviving\nor consolidated company, without any other deed or transfer; and\nsimultaneously therewith such surviving or consolidated company shall be\ndeemed to have assumed all of the liabilities of the constituent\ncompanies.\n

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§ 7112. Vesting of property in surviving or consolidated company;\nassumption of liabilities. Upon the merger or consolidation of any\ncompanies in the manner herein provided, all the rights, franchises and\ninterests of the constituent companies, in and to every species of\nproperty, real, personal and mixed, and things in action thereunto\nbelonging, shall be deemed as transferred to and vested in the surviving\nor consolidated company, without any other deed or transfer; and\nsimultaneously therewith such surviving or consolidated company shall be\ndeemed to have assumed all of the liabilities of the constituent\ncompanies.\n