§ 8-439. Consolidation and merger -- Effect

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(a) Assets vest in successor. -- When a consolidation or merger becomes effective, each right, franchise, and interest of the consolidated or merged society in an asset vests in the successor society, without the need for any other instrument.

(b) Conveyance of real property. -- A conveyance of real property may be evidenced by a proper deed.

(c) No reversion. -- The title to or any interest in real property vested under the laws of the State in a consolidated or merged society does not revert and is not in any way impaired because of the consolidation or merger, but vests absolutely in the successor society.

HISTORY: CA § 6-417; 1995, ch. 36.

                    
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