Laserfiche WebLink
201107889 <br />(1) The Constituent Corporations shall be a single corporation, which shall be <br />Nebraska Association for Developmental Housing, the corporation designated herein as <br />the Surviving Corporation. <br />(2) The separate existence of the Non-Surviving Corporation shall cease. <br />(3) The title to all real estate and other property owned by each Constituent <br />Corporation is vested in the Surviving Corporation without reversion or impairment <br />subject to any and all conditions to which the property was subject prior to the merger. <br />(4) The Surviving Corporation has all liabilities and obligations of each of the <br />Constituent Corporations. <br />(5) A proceeding pending against either of the Constituent Corporations may <br />be continued as if the merger did not occur or the Surviving Corporation may be <br />substituted in the proceedings for the Non-Surviving Corporation. <br />(6) All corporate acts, plans, policies, contracts, approvals and authorizations <br />of each Constituent Corporation and its respective Board of Directors, committees elected <br />or appointed by the Board of Directors, officers and agents, which were valid and <br />effective immediately prior to the Effective Time of the Merger shall be taken for all <br />purposes as the acts, plans, policies, contracts, approvals and authorizations of the <br />Surviving Corporation and shall be as effective and binding thereon as the same were <br />with respect to each Constituent Corporation. The employees of the Non-Surviving <br />Corporation shall become the employees of the Surviving Corporation and continue to be <br />entitled to the same rights and benefits which they enjoyed as employees of the Non- <br />Surviving Corporation. <br />(7) The assets, liabilities, reserves and accounts of each Constituent <br />Corporation shall be recorded on the books of the Surviving Corporation at the amounts <br />at which they, respectively, shall then be carried on the books of such Constituent <br />Corporation subject to such adjustments or eliminations of intercompany items as may be <br />appropriate in giving effect to the merger. <br />B. The Board of Directors and the officers of the Surviving Corporation immediately <br />prior to the Effective Time of the Merger shall be and constitute the Board of Directors and the <br />officers of the Surviving Corporation to serve in accordance with the bylaws of the Surviving <br />Corporation until their respective successors shall have been duly elected and qualified. <br />C. The Surviving Corporation shall have no members. <br />ARTICLE M. <br />Certificate of Incomoration and Bylaws <br />A. The Amended and Restated Articles of Incorporation of the Surviving <br />N.\EDSISS\DOCS\19246=02\FP6678.DOC 2 <br />