58-35-70. Rights, privileges, immunities, and franchises of surviving or new corporation.
143 words·~1 min read·
/sd/title-58/chapter-58-35/58-35-70·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If a merger or consolidation has been effected pursuant to §§ 58-35-60 to 58-35-74 , inclusive:
(1)The surviving or new corporation thereupon and thereafter possesses all the rights, privileges, immunities, and franchises, of a public as well as of a private nature, of each of the merging corporations;
(2)All property, real, personal, and mixed and all debts due on whatever account and any other chose in action and all and every other interest, of or belonging to or due to each of the corporations so merged or consolidated, shall be taken and considered transferred to and vested in the single corporation without further act or deed; and
(3)The title to any real estate, or any interest in the real estate, vested in any of the corporations may not revert or be in any way impaired by reason of such merger.