§1065. Preservation of rights and liabilities

Link to law: http://legislature.vermont.gov/statutes/section/11/007/01065
Published: 2015

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Title

11

:
Corporations, Partnerships and Associations






Chapter

007

:
COOPERATIVES






Subchapter

003
:
CONSOLIDATION OF COOPERATIVE ASSOCIATIONS










 

§

1065. Preservation of rights and liabilities

All rights of

creditors and liens upon the property of the consolidating cooperatives shall

be preserved unimpaired; and all debts, liabilities and duties of each

consolidating cooperative shall thenceforth become the obligation of the new

cooperative and may be enforced against the latter to the same extent as if the

obligations and liabilities had been incurred or contracted by it. (Amended

1971, No. 185 (Adj. Sess.), § 28, eff. March 29, 1972.)
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