§ 37-9-104 — Consolidation; effects; rights of creditors

Wyoming § 37-9-104

• Jurisdiction: Wyoming
• Title 37: Public Utilities
• Ch. 9: RAILROADS
• Art. 1: ORGANIZATION; BONDS; CONSOLIDATION

Text

Upon the election of the first board of trustees of the
corporation created by the agreement pursuant to W.S. 37-9-102,
and by the provisions of W.S. 37-9-101 through 37-9-105, all and
singular the rights and franchises of each and all of the two
(2) or more corporations, parties to such agreement, and all and
singular the rights and interest in and to every species of
property, real, personal and mixed, and things in action shall
be deemed to be transferred to and vested in the new
corporation, without any other deed or transfer, and the new
corporation shall hold and enjoy the same, together with right-
of-way and all other rights of property in the same manner and
to the same extent as if the two (2) or more corporations,
parties to the agreement, should have continued to retain the
title and transact the business of the corporations. And the
title and the real estate acquired by either of the two (2) or
more corporations shall not be deemed to revert or be impaired
by means of anything in W.S. 37-9-101 through 37-9-105;
provided, that all rights of creditors and all liens upon the
property of either of the corporations shall be and hereby are
preserved unimpaired; and the respective corporations shall
continue to exist as far as may be necessary to enforce the
same; provided, further, that all debts, liabilities and duties
of either company shall henceforth attach to the new
corporation, and be enforced to the same extent and in the same
manner as if the debts, liabilities and duties had been
originally incurred by it.