§ 7112. Vesting of property in surviving or consolidated company; assumption of liabilities. Upon the merger or consolidation of any companies in the manner herein provided, all the rights, franchises and interests of the constituent companies, in and to every species of property, real, personal and mixed, and things in action thereunto belonging, shall be deemed as transferred to and vested in the surviving or consolidated company, without any other deed or transfer; and simultaneously therewith such surviving or consolidated company shall be deemed to have assumed all of the liabilities of the constituent companies.
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