(a) When a merger becomes effective:

1. (1) the surviving organization continues or comes into existence;
2. (2) each constituent organization that merges into the surviving organization ceases to exist as a separate entity;
3. (3) all property owned by each constituent organization that ceases to exist vest in the surviving organization;
4. (4) all debts, liabilities, and other obligations of each constituent organization that ceases to exist continue as obligations of the surviving organization;
5. (5) an action or proceeding pending by or against any constituent organization that ceases to exist may be continued as if the merger had not occurred;
6. (6) except as prohibited by other law, all of the rights, privileges, immunities, powers, and purposes of each constituent organization that ceases to exist vest in the surviving organization;
7. (7) except as otherwise provided in the plan of merger, the terms and conditions of the plan of merger take effect; and
8. (8) except as otherwise agreed, if a constituent limited partnership ceases to exist, the merger does not dissolve the limited partnership for the purposes of article 8;

9. (9) if the surviving organization is created by the merger:

   (A) if it is a limited partnership, the certificate of limited partnership becomes effective; or

   (B) if it is an organization other than a limited partnership, the organizational document that creates the organization becomes effective; and

10. (10) if the surviving organization preexists the merger, any amendments provided for in the articles of merger for the organizational document that created the organization become effective.