South Dakota Codified Laws 58-35-69. Surviving corporation exists separate from parties to merger
If a merger has been effected pursuant to §§ 58-35-60 to 58-35-74, inclusive:
(1) The several corporations to the plan of merger are a single corporation which is that corporation designated in the plan of merger as the surviving corporation;
Terms Used In South Dakota Codified Laws 58-35-69
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(2) The separate existence of all corporations parties to the plan of merger, except the surviving or new corporation shall cease; and
(3) The surviving or new corporation has all the rights, privileges, immunities, and powers and is subject to all the duties and liabilities of a corporation organized under §§ 58-35-60 to 58-35-74, inclusive, and §§ 47-1A-101 to 47-1A-863.3, inclusive, §§ 47-1A-1001 to 47-1A-1021, inclusive, and §§ 47-1A-1201 to 47-1A-1202.6, inclusive.
Source: SL 1995, ch 293, § 10; SL 2005, ch 202, § 27.