§ 1065 - Preservation of rights and liabilities
§ 1065. Preservation of rights and liabilities
All rights of creditors and liens upon the property of the consolidating cooperatives shall be preserved unimpaired; and all debts, liabilities and duties of each consolidating cooperative shall thenceforth become the obligation of the new cooperative and may be enforced against the latter to the same extent as if the obligations and liabilities had been incurred or contracted by it. (Amended 1971, No. 185 (Adj. Sess.), § 28, eff. March 29, 1972.)