58-35-69Surviving corporation exists separate from parties to merger.

If a merger has been effected pursuant to §§ 58-35-60 to 58-35-74, inclusive:

(1)    The several corporations to the plan of merger are a single corporation which is that corporation designated in the plan of merger as the surviving corporation;

(2)    The separate existence of all corporations parties to the plan of merger, except the surviving or new corporation shall cease; and

(3)    The surviving or new corporation has all the rights, privileges, immunities, and powers and is subject to all the duties and liabilities of a corporation organized under §§ 58-35-60 to 58-35-74, inclusive, and §§ 47-1A-101 to 47-1A-863.3, inclusive, §§ 47-1A-1001 to 47-1A-1021, inclusive, and §§ 47-1A-1201 to 47-1A-1202.6, inclusive.

Source: SL 1995, ch 293, § 10; SL 2005, ch 202, § 27.