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§ 58-35-69 Surviving corporation exists separate from parties to merger.

SD Codified L § 58-35-69 (2019) (N/A)
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58-35-69. Surviving corporation exists separate from parties to merger. If a merger has been effected pursuant to §§ 58-35-60 to 58-35-74, inclusive:

(1) The several corporations to the plan of merger are a single corporation which is that corporation designated in the plan of merger as the surviving corporation;

(2) The separate existence of all corporations parties to the plan of merger, except the surviving or new corporation shall cease; and

(3) The surviving or new corporation has all the rights, privileges, immunities, and powers and is subject to all the duties and liabilities of a corporation organized under §§ 58-35-60 to 58-35-74, inclusive, and §§ 47-1A-101 to 47-1A-863.3, inclusive, §§ 47-1A-1001 to 47-1A-1021, inclusive, and §§ 47-1A-1201 to 47-1A-1202.6, inclusive.Source: SL 1995, ch 293, § 10; SL 2005, ch 202, § 27.

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§ 58-35-68 Merger effective upon issuance of certificate.
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§ 58-35-70 Rights, privileges, immunities, and franchises of surviving or new corporation.