2015 New York Laws
ISC - Insurance
Article 71 - (Insurance) MERGER, CONSOLIDATION, REDOMESTICATION, ACQUISITION OF ASSETS AND ACQUISITION OF CERTAIN SHARES OF INSURERS
7112 - Vesting of property in surviving or consolidated company; assumption of liabilities.

  7112.  Vesting  of  property  in surviving or consolidated company;
  assumption of liabilities. Upon  the  merger  or  consolidation  of  any
  companies  in the manner herein provided, all the rights, franchises and
  interests of the constituent companies,  in  and  to  every  species  of
  property,  real,  personal  and  mixed,  and  things in action thereunto
  belonging, shall be deemed as transferred to and vested in the surviving
  or consolidated  company,  without  any  other  deed  or  transfer;  and
  simultaneously therewith such surviving or consolidated company shall be
  deemed  to  have  assumed  all  of  the  liabilities  of the constituent
  companies.