South Dakota Statutes
§ 47-18-3 — Effect of merger or consolidation--Surviving cooperative.
After the effective date of a merger or consolidation, the cooperatives which are parties to the plan become a single cooperative. In the case of a merger, the surviving cooperative is that cooperative so designated in the plan. In the case of a consolidation, the new cooperative is the cooperative provided for in the plan. The separate existence of all cooperatives which are parties to the plan, except the surviving or new cooperative, then ceases.
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South Dakota § 47-18-3 (Effect of merger or consolidation--Surviving cooperative.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SDC 1939, § 11.1140 (2) as enacted by SL 1965, ch 23, § 1.
Nearby Sections
15
§ 47-1-1
Repealed§ 47-1-3
Repealed§ 47-10-1
Purposes of corporations.§ 47-10-10
Incorporators.§ 47-10-11
Directors--Number and term of office.§ 47-10-13
Accumulation of surplus--Use of surplus.§ 47-10-14
Persons authorized to hold common stock.§ 47-10-18
Nonstockholder members--Duty to lend.§ 47-10-2
Powers of corporations.