§ 3024 - -Responsibilities for liabilities transferred - Vermont Statutes

§ 3024. -Responsibilities for liabilities transferred

The new or surviving cooperative shall be responsible and liable for all the liabilities and obligations of each of the consolidating or merging cooperatives and a claim existing or action or proceeding pending by or against a consolidating or merging cooperative may be prosecuted as if the consolidation or merger had not taken place, but the new or surviving cooperative may be substituted in its place.