Okla. Stat. tit. 18, § 18-438.19
This is the official text of Okla. Stat. tit. 18, § 18-438.19, part of Oklahoma’s Stat. tit. 18, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 18,." Browse the sections below, each linked to its official government source.
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Effect of consolidation or merger
Official statutory text
(a) In the case of a consolidation the existence of the
consolidating cooperative shall cease and the articles of
consolidation shall be deemed to be the articles of incorporation of
the new cooperative; and in the case of a merger the separate
existence of the merging cooperatives shall cease and the articles
of incorporation of the surviving cooperative shall be deemed to be
amended to the extent, if any, that changes therein are provided for
in the articles of merger;
(b) 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
Oklahoma Statutes - Title 18. Corporations Page 132
cooperatives shall be deemed to be transferred to and vested in the
new or surviving cooperative without further act or deed;
(c) The new or surviving cooperative shall be responsible and
liable for all the liabilities and obligations of each of the
consolidating or merging cooperatives and any claim existing or
action or proceeding pending by or against any of the consolidating
or merging cooperatives may be prosecuted as if the consolidation or
merger had not taken place, but the new or surviving cooperative may
be substituted in its place; and
(d) Neither the rights of creditors nor any liens upon the
property of any of such cooperatives shall be impaired by such
consolidation or merger.
consolidating cooperative shall cease and the articles of
consolidation shall be deemed to be the articles of incorporation of
the new cooperative; and in the case of a merger the separate
existence of the merging cooperatives shall cease and the articles
of incorporation of the surviving cooperative shall be deemed to be
amended to the extent, if any, that changes therein are provided for
in the articles of merger;
(b) 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
Oklahoma Statutes - Title 18. Corporations Page 132
cooperatives shall be deemed to be transferred to and vested in the
new or surviving cooperative without further act or deed;
(c) The new or surviving cooperative shall be responsible and
liable for all the liabilities and obligations of each of the
consolidating or merging cooperatives and any claim existing or
action or proceeding pending by or against any of the consolidating
or merging cooperatives may be prosecuted as if the consolidation or
merger had not taken place, but the new or surviving cooperative may
be substituted in its place; and
(d) Neither the rights of creditors nor any liens upon the
property of any of such cooperatives shall be impaired by such
consolidation or merger.
Status: in_force · Read it on the official government site
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