1. (a) A merger under RSA 564-F:19-1901 has the following effects:

   1. (1) Each foundation and foreign foundation that is a party to the merger shall be merged into a single foundation, which shall be the foundation designated as the surviving foundation in the certificate of merger;
   2. (2) Each foundation and foreign foundation that is a party to the merger, except the surviving foundation, shall cease to exist;
   3. (3) All title to real property and other property owned by each foundation and foreign foundation that is a party to the merger and all contractual rights possessed by each foundation and foreign foundation that is a party to the merger are vested in the surviving foundation without reversion or impairment; and
   4. (4) All liabilities of each foundation and foreign foundation that is a party to the merger are vested in the surviving foundation.
2. (b) For each domestic foundation that is a party to a merger and is not the surviving foundation, a certificate of merger shall constitute a certificate of cancellation.

Source. 2017, 257:47, eff. Oct. 1, 2017.