IC 8-1-17.5-22: Right of corporation to purchase its own obligations; cancellation upon purchase

Sec. 22. A surviving corporation or successor corporation formed under this chapter may, out of any funds available for that purpose, purchase:

(1) any obligations issued by the surviving corporation or successor corporation; and

(2) any accrued interest on the obligations;

at a price determined by resolution of the board. Any obligation described in this section shall be cancelled upon its purchase by the surviving corporation or successor corporation.