{"data":{"id":"us-ne/neb.-rev.-stat.-21-29-127","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 21-29,127","heading":"Effect of merger or consolidation.","body":"When a merger or consolidation becomes effective:\n(1) The surviving organization continues or comes into existence;\n(2) Each constituent organization that merges or consolidates into the surviving organization ceases to exist as a separate entity;\n(3) All property owned by each constituent organization that ceases to exist vests in the surviving organization;\n(4) All debts, liabilities, and other obligations of each constituent organization that ceases to exist continue as obligations of the surviving organization;\n(5) An action or proceeding pending by or against any constituent organization that ceases to exist may be continued as if the merger or consolidation had not occurred;\n(6) Except as prohibited by other law, all of the rights, privileges, immunities, powers, and purposes of each constituent organization that ceases to exist vest in the surviving organization;\n(7) Except as otherwise provided in the plan of merger or consolidation, the terms and conditions of the plan take effect;\n(8) Except as otherwise agreed, if a constituent limited cooperative association ceases to exist, the merger or consolidation does not dissolve the limited cooperative association for purposes of section 21-2987;\n(9) If the surviving organization is created by the merger or consolidation:\n(a) If it is a limited cooperative association, the articles of organization become effective; or\n(b) If it is an organization other than a limited cooperative association, the organizational document that creates the organization becomes effective; and\n(10) If the surviving organization exists before the merger or consolidation, any amendments provided for in the articles of merger or consolidation for the organizational document that created the organization become effective.","path":["Chapter 21 - CORPORATIONS AND OTHER COMPANIES"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=21-29,127","current_through":"Laws 2026","vintage":"","retrieved_at":"2026-10-18T05:55:23Z","sha256":"2fb9a5da1b90dfdf1d051ea911aa0fc2b683988ee79bf6a800a6eb965ba72a5d","source_id":"us-ne","stale":false,"prev":"us-ne/neb.-rev.-stat.-21-29-126","next":"us-ne/neb.-rev.-stat.-21-29-128"},"notice":"GroundRules: Original legal text. Not legal advice."}