South Dakota Codified Laws 58-35-70. Rights, privileges, immunities, and franchises of surviving or new corporation
If a merger or consolidation has been effected pursuant to §§ 58-35-60 to 58-35-74, inclusive:
(1) The surviving or new corporation thereupon and thereafter possesses all the rights, privileges, immunities, and franchises, of a public as well as of a private nature, of each of the merging corporations;
Terms Used In South Dakota Codified Laws 58-35-70
- 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.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
(2) All property, real, personal, and mixed and all debts due on whatever account and any other chose in action and all and every other interest, of or belonging to or due to each of the corporations so merged or consolidated, shall be taken and considered transferred to and vested in the single corporation without further act or deed; and
(3) The title to any real estate, or any interest in the real estate, vested in any of the corporations may not revert or be in any way impaired by reason of such merger.
Source: SL 1995, ch 293, § 11.