Illinois General Assembly - Illinois Compiled Statutes

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205 ILCS 205/8007

(205 ILCS 205/8007) (from Ch. 17, par. 7308-7)

Sec. 8007. Effect of merger.

The continuing savings bank or resulting
depository institution shall be considered the same
business and corporate entity as each merging depository institution, with all
the property, rights, duties, and obligations of each merging depository
institution, except as otherwise provided by the articles of incorporation of
the continuing savings bank or resulting depository institution.  All liabilities of each of the merging institutions shall be
liabilities of the continuing savings bank or resulting depository institution; and all of the rights, franchises, and interests of
each of the merging depository institutions in and to every kind of property,
real, personal, or mixed shall vest automatically in the continuing savings
bank or resulting depository institution without
any deed or other transfer.  Any reference to a merging depository institution
in any writing, whether executed or effective before or after the merger, shall
be deemed a reference to the continuing savings bank or resulting depository
institution if not inconsistent with the other
provisions of the writing.  No pending action or other judicial proceeding to
which any merging depository institution is a party shall be abated or
dismissed by reason of the merger, but shall be prosecuted to final judgment in
the same manner as if the merger had not occurred.

(Source: P.A. 97-492, eff. 1-1-12.)