§ 6625. Merger; consolidation. (a) Two or more advance premium
corporations may, in accordance with applicable provisions of article
seventy-one of this chapter, merge or consolidate.

(b) Two or more assessment corporations licensed to do business either
wholly or substantially in a common territory may, in accordance with
applicable provisions of article seventy-one of this chapter, merge or
consolidate.

(c) (1) If, after investigation and examination, the superintendent
finds that the proceedings for merger or consolidation, as the case may
be, have been regularly taken in conformity with law and that the
continuing or resulting corporation meets the requirements of this
chapter, he may issue a license to such corporation to do business under
this chapter.

(2) Every such continuing or new corporation shall assume and succeed
to all the obligations and liabilities of the merging corporations and
shall be liable to pay and discharge all such debts and liabilities in
the same manner as if they had been incurred or contracted by it.