If the 2 asrock motherboards have the same chipset (H77) and same SATA controller then transfering the hard disk to the new motherboard may work without too many problems
but if the SATA controller chip is different expect a BSOD 0x0000007b error
Except if your Windows is OEM it will detect the change and demand re activation which will probably require purchasing a new licence.
But if you talk to the people at the Microsoft activation centre and explain the motherboard died but is the same make & chipset they may give you a new key if they are in a good mood
Retail Windows will also detect change of motherboard and require re activation.