There is a newer version of the Mississippi Code
2016 Mississippi Code
Title 19 - Counties and County Officers
Chapter 5 - Health, Safety and Public Welfare
Transactions Involving Property, Assets, and Merger of Nonprofit, Nonshare Corporations Chartered for Rural Waterworks or Sewage Disposal System Purposes, and of Utility Districts (§§ 19-5-251 - 19-5-257)
§ 19-5-257. Assumption of existing indebtedness
MS Code § 19-5-257 (2016) What's This?
Upon acquiring such nonprofit, nonshare corporation or utility district, the political subdivision, utility district or nonprofit, nonshare corporation shall assume any existing indebtedness of the corporation or utility district and be responsible for such indebtedness.
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