Montana § 35-15-505 Effect Of Merger Or Consolidation -- Rights And Obligations -- Rights Of Creditors Not Impaired

Montana Statutes

§ 35-15-505 — Effect Of Merger Or Consolidation -- Rights And Obligations -- Rights Of Creditors Not Impaired

Montana § 35-15-505

Title 35CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Ch. 15COOPERATIVE ASSOCIATIONS

Part 5Merger, Consolidation, and Sale of Assets

This text of Montana § 35-15-505 (Effect Of Merger Or Consolidation -- Rights And Obligations -- Rights Of Creditors Not Impaired) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 35-15-505 (2026).

Text

35-15-505 . Effect of merger or consolidation -- rights and obligations -- rights of creditors not impaired.

(1)After the effective date, the associations that are parties to the plan become a single association. In the case of a merger, the surviving association is that association designated in the plan. In the case of a consolidation, the new association is the association provided for in the plan. The separate existence of all associations that are parties to the plan, except the surviving or new association, then ceases.

(2)The surviving or new association possesses all the rights and all the property of each of the individual associations and is responsible for all their obligations. Title to any property is vested in the surviving or new association with no reversion or impairment

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35-15-505 . Effect of merger or consolidation -- rights and obligations -- rights of creditors not impaired. (1) After the effective date, the associations that are parties to the plan become a single association. In the case of a merger, the surviving association is that association designated in the plan. In the case of a consolidation, the new association is the association provided for in the plan. The separate existence of all associations that are parties to the plan, except the surviving or new association, then ceases.
(2) The surviving or new association possesses all the rights and all the property of each of the individual associations and is responsible for all their obligations. Title to any property is vested in the surviving or new association with no reversion or impairment of the title caused by the merger or consolidation. The right of any creditor may not be impaired by the merger or consolidation without the creditor's consent.
(3) This part may not be construed to impair the obligation of any contract to which any of the constituents was a party at the date of consolidation.

Legislative History

(1), (2)En. Sec. 1, Ch. 140, L. 1917; re-en. Sec. 6390, R.C.M. 1921; re-en. Sec. 6390, R.C.M. 1935; amd. Sec. 2, Ch. 342, L. 1973; Sec. 14-216, R.C.M. 1947; (3)En. Sec. 4, Ch. 140, L. 1917; re-en. Sec. 6393, R.C.M. 1921; re-en. Sec. 6393, R.C.M. 1935; Sec. 14-219, R.C.M. 1947; R.C.M. 1947, 14-216(6), 14-219; amd. Sec. 1322, Ch. 56, L. 2009.