Arkansas § 4-37-607 - Effect of merger.

§ 4-37-607. Effect of merger.

When a merger under § 4-37-604 becomes effective, in addition to the effects stated in § 4-32-1209 : as provided in the plan of merger, each protected series of each merging company which was established before the merger: is a relocated protected series or continuing protected series; or is dissolved, wound up, and terminated; any protected series to be established as a result of the merger is established; any relocated protected series or continuing protected series is the same person without interruption as it was before the merger; all property of a relocated protected series or continuing protected series continues to be vested in the protected series without transfer, reversion, or impairment; all debts, obligations, and other liabilities of a relocated protected series or continuing protected series continue as debts, obligations, and other liabilities of the protected series; except as otherwise provided by law or the plan of merger, all the rights, privileges, immunities, powers, and purposes of a relocated protected series or continuing protected series remain in the protected series; the new name of a relocated protected series may be substituted for the former name of the protected series in any pending action or proceeding; if provided in the plan of merger: a person becomes an associated member or protected-series transferee of a relocated protected series or continuing protected series; a person becomes an associated member of a protected series established by the surviving company as a result of the merger; any change in the rights or obligations of a person in the person's capacity as an associated member or protected-series transferee of a relocated protected series or continuing protected series take effect; and any consideration to be paid to a person that before the merger was an associated member or protected-series transferee of a relocated protected series or continuing protected series is due; and any person that is a member of a relocated protected series becomes a member of the surviving company, if not already a member.