{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-437.14","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-437.14","heading":"Effect of consolidation or merger","body":"The effect of consolidation or merger shall be as follows:\n\n(a) The several cooperatives, parties to the consolidation or\n\nmerger, shall be a single cooperative, which, in the case of a\n\nconsolidation, shall be the new cooperative provided for in the\n\narticles of consolidation, and, in the case of a merger, shall be\n\nthat cooperative designated in the articles of merger as the\n\nsurviving cooperative, and the separate existence of all\n\ncooperatives, parties to the consolidation or merger, except the new\n\nor surviving cooperative, shall cease;\n\n(b) Such new or surviving cooperative shall have all the rights,\n\nprivileges, immunities, and powers and shall be subject to all the\n\nduties and liabilities of a cooperative organized under the\n\nprovisions of this act, and shall possess all the rights,\n\nprivileges, immunities, and franchises, as well of a public as of a\n\nprivate nature, and all property, real and personal, applications\n\nfor membership, all debts due on whatever account, and all other\n\nchoses in action, of each of the consolidating or merging\n\ncooperatives, and furthermore all and every interest of, or\n\nbelonging or due to, each of the cooperatives so consolidated or\n\nmerged, shall be taken and deemed to be transferred to and vested in\n\nsuch new or surviving cooperative without further act or deed; and\n\nthe title to any real estate, or any interest therein, under the\n\nlaws of this state vested in any such cooperatives shall not revert\n\nor be in any way impaired by reason of such consolidation or merger;\n\n(c) Such new or surviving cooperative shall thenceforth be\n\nresponsible and liable for all of the liabilities and obligations of\n\neach of the cooperatives so consolidated or merged, and any claim\n\nexisting, or action or proceeding pending, by or against any of such\n\ncooperatives may be prosecuted as if such consolidation or merger\n\nhad not taken place, but such new or surviving cooperative may be\n\nsubstituted in its place;\n\n(d) Neither the rights of creditors nor any liens upon the\n\nproperty of any of such cooperatives shall be impaired by such\n\nconsolidation or merger; and\n\n(e) In the case of a consolidation, the articles of\n\nconsolidation shall be deemed to be the articles of incorporation of\n\nthe new cooperative; and in the case of a merger, the articles of\n\nincorporation of the surviving cooperative shall be deemed to be\n\namended to the extent, if any, that changes therein are provided for\n\nin the articles of merger.","path":["OK Code","Title 18"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os18.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"653af4a692f6297cac6128bffe01648b6054848a2fb0161f1f787a2ae58e47f7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-437.13","next":"us-ok/okla.-stat.-tit.-18-18-437.15"},"notice":"GroundRules: Original legal text. Not legal advice."}