Section 62.454 - Effect of Merger(a) A merger takes effect on the date the last required certificate of merger is issued.(b) After the merger takes effect:(1) a corporation that was merged ceases to exist;(2) the association assumes the rights and obligations of the corporation and owns the property of the association; and(3) the association's articles of incorporation are considered amended to the extent that a change is stated in the plan of merger. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.