Vermont Statutes Title 30 Sec. 3023
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Terms Used In Vermont Statutes Title 30 Sec. 3023
- Cooperative: means a corporation organized under this chapter or which becomes subject to this chapter in the manner hereinafter provided. See
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
§ 3023. Transfer of rights and liabilities
All the rights, privileges, immunities, and franchises and all property, real and personal, including applications for membership, all debts due on whatever account, and all other choses in action, of each of the consolidating or merger cooperatives shall be deemed to be transferred to and vested in the new or surviving cooperative respectively, without further act or deed.