Preservation of continuing contractsN.I.
5N.I.Every bond, guarantee, or other security of a continuing character made or given or deemed to have been made or given by the transferor to another person or by any person to the transferor and in force immediately before the date of transfer and every contract or agreement in writing made or deemed to have been made between the transferor and another person and not fully executed and completed before the date of transfer shall, notwithstanding the dissolution of the transferor, continue in force after the date of transfer but shall be construed and have effect as if the name of the transferee were substituted therein for the name of the transferor, and such security, contract or agreement shall be enforceable by or against the transferee accordingly.