{"data":{"id":"us-ky/krs-279.460","jurisdiction":"us-ky","citation":"KRS 279.460","heading":"Effect of consolidation or merger.","body":"(1) In the case of a consolidation the existence of the consolidating cooperatives shall\ncease and the articles of consolidation shall be deemed to be the articles of\nincorporation of the new cooperative; and in the case of a merger the separate\nexistence of the merging cooperative shall cease and the articles of incorporation of\nthe surviving cooperative shall be deemed to be amended to the extent, if any, that\nchanges therein are provided for in the articles of merger.\n(2) All the rights, privileges, immunit ies and franchises and all property, real and\npersonal, including without limitation applications for membership, all debts due on\nwhatever account and all other choses in action, of each of the consolidating or\nmerging cooperatives shall be deemed to be t ransferred to and vested in the new or\nsurviving cooperative without further act or deed.\n(3) The new or surviving cooperative shall be responsible and liable for all the\nliabilities and obligations of each of the consolidating or merging cooperatives and\nany claim existing or action or proceeding pending by or against any of the\nconsolidating or merging cooperatives may be prosecuted as if the consolidation or\nmerger had not taken place, but the new or surviving cooperative may be substituted\nin its place.\n(4) Neither the rights of creditors nor any liens upon the property of any of such\ncooperatives shall be impaired by such consolidation or merger.","path":["KRS Chapter 279"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14222","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:32Z","sha256":"cd25db73ab90b2f66e073fec6438b51726cc11f9f6621b688dcaffebac789ee2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-279.450","next":"us-ky/krs-279.470"},"notice":"GroundRules: Original legal text. Not legal advice."}