Any bequest, devise, gift, grant, or promise contained in a will or other instrument of donation, subscription, or conveyance, which is made to a constituent corporation and which takes effect or remains payable after the merger, inures to the surviving party to the merger.
Cal. Corp. Code § 6022
Effect of Merger
Known as the Nonprofit Public Benefit Corporation Law
The act spans §§ 5110–6910 (202 sections).
Amended by Stats. 1999, Ch. 437, Sec. 17
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.