N.Y. Insurance Law § 7112: Vesting of property in surviving or consolidated company; assumption of liabilities

§ 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.