352.160. Property rights--how affected by merger. - Missouri Statutes

Property rights--how affected by merger.

352.160. Upon the issuance of such charter, the corporateexistence of the merging or consolidating corporations shallbecome merged into that of the consolidated corporation and allrights, privileges, and franchises, and the right, title andinterest in and to all property of whatsoever kind, whether real,personal or mixed, and things in action, and every right,privilege, interest or asset of conceivable value or benefit thenexisting or thereafter arising to which either of suchcorporations so merging or consolidating shall be or becomeentitled at law or in equity, shall be fully and finally andwithout any right or reversion, transferred to and vested in suchconsolidated corporation without further act or deed, and suchconsolidated corporation shall have and hold the same in its owncorporate right as fully as the same was possessed and held byeither of such merging or consolidating corporations from whichsuch rights were, by operation of sections 352.140 to 352.170,transferred; and if any such corporation which is a party to suchmerger or consolidation shall be or shall have been designated aslegatee, or devisee or beneficiary in any will, trust agreement,trust conveyance or other conveyance or instrument whatsoeverprior to such merger or consolidation, even though such will,trust agreement, trust conveyance or other conveyance orinstrument shall not become operative or effective until aftersuch merger or consolidation shall have become effective, everysuch legacy, devise, or benefit shall vest in, devolve upon andinure to and be received and enjoyed by such consolidatedcorporation.

(RSMo 1939 § 5459)

Prior revision: 1929 § 5022