Section 17-19-1114 - Effect of consolidation(a) When a consolidation takes effect: (i) Every other corporation party to the consolidation consolidates into the new corporation and the separate existence of every corporation except the new corporation ceases; (ii) The title to all real estate and other property owned by each corporation party to the consolidation is vested in the new corporation without reversion or impairment subject to any and all conditions to which the property was subject prior to the consolidation; (iii) The new corporation has all liabilities and obligations of each corporation party to the consolidation; (iv) A proceeding pending against any corporation party to the consolidation may be continued as if the consolidation did not occur or the new corporation may be substituted in the proceeding for the corporation whose existence ceased; and (v) The articles of incorporation and bylaws of the new corporation are amended to the extent provided in the plan of consolidation.