RSA 564-F:19-1902 · Effects of Merger

564-F:19-1902 Effects of Merger. –

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(a)

A merger under RSA 564-F:19-1901 has the following effects:

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(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;

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(2)

Each foundation and foreign foundation that is a party to the merger, except the surviving foundation, shall cease to exist;

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(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

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(4)

All liabilities of each foundation and foreign foundation that is a party to the merger are vested in the surviving foundation.

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(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. Source. 2017, 257:47, eff. Oct. 1, 2017. ARTICLE 20 Dissolution Part A Voluntary Dissolution

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