§ 12552 Merged Corporation Gift Transfers

Corporations Code·California

AI SummaryVerified

This law says that if someone leaves money or property to a company that later merges with another company, the gift goes to the new combined company instead.

Key Takeaways

•Gifts or money left to a company in a will go to the new company if there's a merger.
•This applies to things like money, property, or promises given to the original company.
•The gift doesn't get lost or canceled just because the company merged.

Example

A person leaves money in their will to a local hospital.

If that hospital merges with a bigger hospital before the person dies, the money goes to the bigger hospital instead.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 12552 Merged Corporation Gift Transfers

Any bequest, devise, gift, grant, or promise contained in a will or other instrument of donation, subscription, or conveyance, which is made to a constituent corporation and which takes effect or remains payable after the merger, inures to the surviving party to the merger. (Amended by Stats. 1999, Ch. 437, Sec. 25.6. Effective January 1, 2000.)

Last verified: January 10, 2026

Key Terms

bequest devise gift grant promise constituent corporation surviving party merger

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 12552.

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Key Takeaways

Example

Key Terms

Related Statutes

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