2019 US Virgin Islands Code
Title 9 - Banking
Chapter 7 - Merger or Consolidation
§ 87. Title to property and assets

When a merger or consolidation is made under the provisions of this title, each and all the property, shares, rights, franchises, powers and privileges of the merged or consolidated financial institutions shall become the property of the consolidated or of the newly organized financial institution, without need of executing any instrument or document of conveyance, and the consolidated or newly organized financial institution, as the case may be, shall have, as regards such property, shares, rights, franchises, powers and privileges, the same rights as the merged or consolidated entities had. In order that the consolidated or the newly organized, financial institution as the case may be, may have recorded in its name the properties, shares, rights and franchises as a result of such merger or consolidation, it shall file a copy of the merger or consolidation agreement, certified by the Lieutenant Governor, under his seal, in the Office of the Recorder of Deeds in the judicial division in which the principal office of the corporation is located, and in the Office of the Recorder of Deeds of each other judicial division in which may be located any real property of the corporation, and, upon payment of the recording fees fixed by law, such instruments shall be admitted to record.