Sec. 17. (a) A surviving corporation or successor corporation formed under this chapter has all the powers and may provide any of the services that any party to the merger or consolidation had or could provide under:

(1) IC 8-1-13;

Terms Used In Indiana Code 8-1-17.5-17

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • successor corporation: means a corporation that is formed from a consolidation of two (2) or more corporations under this chapter. See Indiana Code 8-1-17.5-5
  • surviving corporation: means the corporation that remains after a merger of two (2) or more corporations under this chapter. See Indiana Code 8-1-17.5-6
(2) IC 8-1-17; or

(3) this chapter;

on the effective date of the merger or consolidation.

     (b) A surviving corporation or successor corporation formed under this chapter is vested with all powers necessary for the accomplishment of the surviving corporation’s or successor corporation’s corporate purpose. An enumeration of particular powers granted by this chapter does not:

(1) impair any grant of general power by this chapter; or

(2) limit any grant of a particular power to the same class of powers as the power so enumerated.

     (c) As used in this section, “services” shall be interpreted in its broadest sense and includes any services authorized by:

(1) IC 8-1-13;

(2) IC 8-1-17; or

(3) this chapter.

As added by P.L.18-2010, SEC.1.

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