New York Laws
Article 5-C - Interstate Branching
225 - Interstate Acquisition Transactions.

(a) the resulting or consolidated corporation shall be considered the
same business and corporate entity as each of the constituent
corporations;
(b) all the property, rights, powers and franchises of each of the
constituent corporations shall vest in the resulting or consolidated
corporation and the resulting or consolidated corporation shall be
subject to and shall be deemed to have assumed all of the debts,
liabilities, obligations and duties of each constituent corporation and
to have succeeded to all of its relationships, fiduciary or otherwise,
as fully and to the same extent as if such property, rights, powers,
franchises, debts, liabilities, obligations, duties and relationships
had been originally acquired, incurred or entered into by the resulting
or consolidated corporation;
(c) any reference to a constituent corporation in any contract, will
or document, whether executed or taking effect before or after the
merger or consolidation, shall be considered a reference to the
resulting or consolidated corporation if not inconsistent with the other
provisions of the contract, will or document;
(d) a pending action or other judicial proceeding to which any
constituent corporation is a party, shall not be deemed to have abated
or to have discontinued by reason of the merger or consolidation, but
may be prosecuted to final judgment, order or decree in the same manner
as if the merger or consolidation had not been made, or the resulting or
consolidated corporation may be substituted as a party to such action or
proceeding, and any judgment, order or decree may be rendered for or
against it that might have been rendered for or against such constituent
corporation if the merger or consolidation had not occurred; and
(e) nothing in this subdivision shall be deemed to authorize a banking
institution to exercise any power or engage in any activity not
otherwise permitted under its charter.
4. In the case of a merger or consolidation authorized by this article
in which an out-of-state bank or out-of-state trust company is the
resulting or consolidated corporation, the franchise of any constituent
New York bank shall automatically terminate when the merger or
consolidation is consummated.