South Dakota Codified Laws 47-25-15. Rights and duties of surviving corporation
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When a merger or consolidation has been effected pursuant to this chapter, the surviving or new corporation shall have all the rights, privileges, immunities, and powers and shall be subject to all the duties and liabilities of a corporation organized under chapter 47-22.
Terms Used In South Dakota Codified Laws 47-25-15
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Source: SL 1965, ch 24, § 44 (3).