Surviving corporation exists separate from parties to merger

If a merger has been effected pursuant to §§ 58-35-60 to 58-35-74 , inclusive: (1) The several corporations to the plan of merger are a single corporation which is that corporation designated in the plan of merger as the surviving corporation; (2) The separate existence of all corporations parties to the plan of merger, except the surviving or new corporation shall cease; and (3) The surviving or new corporation has all the rights, privileges, immunities, and powers and is subject to all the duties and liabilities of a corporation organized under §§ 58-35-60 to 58-35-74 , inclusive, and §§ 47-1A-101 to 47-1A-863.3 , inclusive, §§ 47-1A-1001 to 47-1A-1021 , inclusive, and §§ 47-1A-1201 to 47-1A-1202.6 , inclusive. Source: SL 1995, ch 293 , § 10; SL 2005, ch 202 , § 27.