New Jersey § 17:12b-203

§ 17:12b-203.

Upon the merger of any State association into another: (a) Its corporate existence shall be merged into that of the other State association,

and all its rights, privileges and franchises, and its right, title and interest in

and to all property of whatever kind, whether real, personal or mixed, and things

in action, and every right, privilege, interest or asset of value or benefit then

existing which would inure to it under an unmerged existence, shall be transferred

to and vested in the State association into which it has merged, without further act

or deed and without any right or reversion. The last mentioned State association shall have and hold the same in its own right

as fully as the same was possessed and held by the merged State association; (b) Its rights, liabilities, obligations and relations to any person shall remain

unimpaired, and the State association into which it has been merged shall, by the

merger, succeed to all the relations, obligations and liabilities, as though it had

itself assumed or incurred the same. No obligation or liability of a member in a State association a party to the merger

shall be affected by the merger, but the obligations and liabilities shall continue

as they existed before the merger; (c) A pending action or other judicial proceeding to which a merged State association

is a party shall not abate or be discontinued by reason of the merger, but may be

prosecuted to final judgment order or decree as if the merger has not been effected,

or the State association into which the other State association has been merged may

be substituted as a party to the action or proceeding, and any judgment order or decree

may be rendered for or against it that might have been rendered for or against the

other State association if the merger had not occurred.