16:1-43.8 - Vested rights and privileges of constituent corporations; continuation of corporate existence - New Jersey Statutes

16:1-43.8.  Vested rights and privileges of constituent corporations; continuation of corporate existence
    Nothing herein contained shall impair, annul or affect any vested rights, charter rights, privileges, exemptions, immunities, powers, prerogatives, franchises or advantages heretofore obtained and actually used or enjoyed by either constituent corporation under authority of any act of this State.

    Neither constituent corporation shall be dissolved nor shall its existence be terminated by reason of the consolidation, but it shall continue to exist in  the consolidated corporation, which shall succeed to and continue to have and  enjoy unimpaired the several rights, charter rights, privileges, exemptions,  immunities, powers, prerogatives, franchises and advantages of the constituent  corporations, consistently with the provisions of this act and of the  consolidation agreement.

     L.1944, c. 143, p. 386, s. 8.