Maryland § 5-629
Full text of Maryland Maryland Code § 5-629, with citation guidance and answers to common questions.
§ 5-629.
(a) Consummation of a consolidation or merger has the effects provided in this section.
(b) The separate existence of each cooperative party to the articles of consolidation or merger, except the successor, ceases.
(c) (1) In a consolidation, the articles of consolidation shall be deemed to be the articles of incorporation of the successor.
(2) In a merger, the articles of incorporation of the successor shall be deemed to be amended to the extent that changes to the articles of incorporation are provided for in the articles of merger.
(d) The rights, privileges, immunities, and assets, including applications for membership, of each of the consolidating or merging cooperatives transfer to and vest in the successor without further act or deed.
(e) (1) The successor is liable for all the debts, obligations, and liabilities of each consolidating or merging cooperative.
(2) An existing claim, action, or proceeding pending by or against a consolidating or merging cooperative may be prosecuted to judgment as if the consolidation or merger had not taken place, or, on motion of the successor or any party, the successor may be substituted as a party and a judgment against the consolidating or merging cooperative constitutes a lien on the property of the successor.
(f) A consolidation or merger does not impair the rights of creditors or any lien on the property of a cooperative party to the articles of consolidation or merger.
Frequently Asked Questions About Maryland § 5-629
What does Maryland Code § 5-629 cover?
Section 5-629 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 5-629?
A common citation format is "Maryland Code § 5-629" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 5-629 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.