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§ 8-439. Effect of consolidation or merger of societies

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 8. Entities that Act as Insurers
Subtitle 4. Fraternal Benefit Societies (Refs & Annos)
Part IV. Other Powers and Duties
MD Code, Insurance, § 8-439
§ 8-439. Effect of consolidation or merger of societies
Currentness
In general
(a) When a consolidation or merger becomes effective, each right, franchise, and interest of the consolidated or merged society in an asset vests in the successor society, without the need for any other instrument.
Conveyance of real property
(b) A conveyance of real property may be evidenced by a proper deed.
Title to or interest in real property
(c) The title to or any interest in real property vested under the laws of the State in a consolidated or merged society does not revert and is not in any way impaired because of the consolidation or merger, but vests absolutely in the successor society.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
MD Code, Insurance, § 8-439, MD INSURANCE § 8-439
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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