There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 47 CORPORATIONS
Chapter 25. Nonprofit Corporations--Reorganization
§47-25-17 New corporation as responsible for claims and liabilities--Preexisting rights unimpaired.
SD Codified L § 47-25-17 (through 2011) What's This?
47-25-17. New corporation as responsible for claims and liabilities--Preexisting rights unimpaired. When a merger or consolidation has been effected pursuant to this chapter, the surviving or new corporation shall thenceforth be responsible and liable for all the liabilities and obligations of each of the corporations so merged or consolidated; and any claim existing or action or proceeding pending by or against any of such corporations may be prosecuted as if such merger or consolidation had not taken place, or such surviving or new corporation may be substituted in its place. Neither the rights of creditors nor any liens upon the property of any such corporation shall be impaired by such merger or consolidation.
Source: SL 1965, ch 24, § 44 (5).
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