LD 1539
pg. 54
Page 53 of 104 PUBLIC Law Chapter 344 Page 55 of 104
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LR 1942
Item 1

 
E. The name of the survivor may but need not be substituted
in any pending proceeding for the name of any party to the
merger whose separate existence ceased in the merger;

 
F. The articles of incorporation or organizational
documents of the survivor are amended to the extent provided
in the plan of merger;

 
G. The articles of incorporation or organizational
documents of a survivor that is created by the merger become
effective; and

 
H. The shares of each corporation that is a party to the
merger and the eligible interests in an other eligible
entity that is a party to a merger that are to be converted
under the plan of merger into shares, eligible interests,
obligations, rights to acquire securities shares, other
securities or eligible interests, cash or other property or
any combination thereof are converted, and the former
holders of the shares or eligible interests are entitled
only to the rights provided to them in the plan of merger or
to any rights they may have under chapter 13 or the organic
law of the eligible entity.

 
2. Share exchange. When a share exchange becomes effective,
the shares of each domestic corporation that are to be exchanged
for shares or, other securities, eligible interests, obligations,
rights to acquire shares or other securities or eligible
interests, cash or other property or any combination thereof are
entitled only to the rights provided to them in the plan of share
exchange or to any rights they may have under chapter 13.

 
3. Shareholder's liabilities and obligations. A person who
becomes subject to owner liability for some or all of the debts,
liabilities or obligations of any entity as a result of a merger
or share exchange has owner liability only to the extent provided
in the organic law of the entity and only for those debts,
liabilities and obligations that arise after the effective time
of the articles of merger or share exchange.

 
4. Foreign corporation. When a merger becomes effective, a
foreign corporation or a foreign other eligible entity that is
the survivor of the merger is deemed to:

 
A. Appoint the Secretary of State as its agent for service of
process in a proceeding to enforce the rights of shareholders of
each domestic corporation that is a party to the merger who
exercise appraisal rights and shall provide a


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