§ 17-19-1114 — Effect of consolidation

Wyoming § 17-19-1114

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 19: WYOMING NONPROFIT CORPORATION ACT
• Art. 11: MERGER AND CONSOLIDATION

Text

(a) When a consolidation takes effect:
(i) Every other corporation party to the
consolidation consolidates into the new corporation and the
separate existence of every corporation except the new
corporation ceases;
(ii) The title to all real estate and other property
owned by each corporation party to the consolidation is vested
in the new corporation without reversion or impairment subject
to any and all conditions to which the property was subject
prior to the consolidation;
(iii) The new corporation has all liabilities and
obligations of each corporation party to the consolidation;
(iv) A proceeding pending against any corporation
party to the consolidation may be continued as if the
consolidation did not occur or the new corporation may be
substituted in the proceeding for the corporation whose
existence ceased; and
(v) The articles of incorporation and bylaws of the
new corporation are amended to the extent provided in the plan
of consolidation.