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The Vermont Statutes Online
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.)