District of Columbia Code Division V. Local Business Affairs § 29-809.05. Effect of merger.
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(a) When a merger becomes effective:
(1) The surviving company shall continue or come into existence;
(2) Each constituent company that merges into the surviving company shall cease to exist as a separate entity;
(3) All property owned by each constituent company that ceases to exist shall vest in the surviving company;
(4) All debts, obligations, or other liabilities of each constituent company that ceases to exist shall continue as debts, obligations, or other liabilities of the surviving company;
(5) An action or proceeding pending by or against any constituent company that ceases to exist may be continued as if the merger had not occurred;
(6) Except as prohibited by other law, all of the rights, privileges, immunities, powers, and purposes of each constituent company that ceases to exist shall vest in the surviving company;
(7) Except as otherwise provided in the plan of merger, the terms and conditions of the plan of merger take effect; and
(8) Except as otherwise agreed, if a constituent company ceases to exist, the merger shall not dissolve the limited liability company for the purposes of subchapter VII of this chapter;
(9) If the surviving company is created by the merger, the certificate of organization shall become effective; and
(10) If the surviving company preexisted the merger, any amendments provided for in the articles of merger for its certificate or organization shall become effective.
(b) A surviving company that is a foreign limited liability company consents to the jurisdiction of the Superior Court to enforce any debt, obligation, or other liability owed by a constituent company, if before the merger the constituent company was subject to suit in the District on the debt, obligation, or other liability. A surviving company that is a foreign limited liability company and not authorized to do business in the District may be served with process for the purposes of enforcing a debt, obligation, or other liability under this subsection in the same manner and with the same consequences as in § 29-104.12.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 29-809.05. Effect of merger. - last updated January 01, 2020 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-29-809-05/
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