47-21-32. Transfer of rights and obligations to surviving cooperative.
59 words·~1 min read·
/sd/title-47/chapter-47-21/47-21-32A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All the rights, privileges, immunities, and franchises and all property, real and personal, including without limitation applications for membership, all debts due on whatever account and all other choses in action, of each of the consolidating or merging cooperatives shall be deemed to be transferred to and vested in the new or surviving cooperative without further act or deed.