This text of Iowa § 489.14608 (Application of section 489.14404 after merger) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1. A creditor’s right that existed under section 489.14404 immediately before a merger
under section 489.14604 may be enforced after the merger in accordance with all of the
following:
a. A creditor’s right that existed immediately before the merger against the surviving
company, a continuing protected series, or a relocated protected series continues without
change after the merger.
b. A creditor’s right that existed immediately before the merger against a nonsurviving
company all of the following apply:
(1)May be asserted against an asset of the nonsurviving company which vested in the
surviving company as a result of the merger.
(2)Does not otherwise change.
c. Subject to subsection 2, all of the following apply:
(1)In addition to the remedy stated in paragraph “a”, a creditor with a
Free access — add to your briefcase to read the full text and ask questions with AI
1. A creditor’s right that existed under section 489.14404 immediately before a merger
under section 489.14604 may be enforced after the merger in accordance with all of the
following:
a. A creditor’s right that existed immediately before the merger against the surviving
company, a continuing protected series, or a relocated protected series continues without
change after the merger.
b. A creditor’s right that existed immediately before the merger against a nonsurviving
company all of the following apply:
(1) May be asserted against an asset of the nonsurviving company which vested in the
surviving company as a result of the merger.
(2) Does not otherwise change.
c. Subject to subsection 2, all of the following apply:
(1) In addition to the remedy stated in paragraph “a”, a creditor with a right under section
489.14404 which existed immediately before the merger against a nonsurviving company or
a relocated protected series may assert the right against any of the following:
(a) An asset of the surviving company, other than an asset of the nonsurviving company
which vested in the surviving company as a result of the merger.
(b) An asset of a continuing protected series.
(c) An asset of a protected series established by the surviving company as a result of the
merger.
(d) If the creditor’s right was against an asset of the nonsurviving company, an asset of a
relocated series.
(e) If the creditor’s right was against an asset of a relocated protected series, an asset of
another relocated protected series.
(2) In addition to the remedy stated in paragraph “b”, a creditor with a right that existed
immediately before the merger against the surviving company or a continuing protected
series may assert the right against any of the following:
(a) An asset of a relocated protected series.
(b) An asset of a nonsurviving company which vested in the surviving company as a result
of the merger.
2. For the purposes of subsection 1, paragraph “c”, and section 489.14404, subsection
2, paragraph “a”, subparagraph (1); section 489.14404, subsection 2, paragraph “b”,
subparagraph (1); and section 489.14404, subsection 2, paragraph “c”, subparagraph (1), the
incurrence date is deemed to be the date on which the merger becomes effective.
3. A merger under section 489.14604 does not affect the manner in which section
489.14404 applies to a liability incurred after the merger.