Owner liability only as in organic law and for debts arising after effective time of articles of merger or share exchange.

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  5. Owner liability only as in organic law and for debts arising after effective time of articles of merger or share exchange.

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47-1A-1107.2. Owner liability only as in organic law and for debts arising after effective time of articles of merger or share exchange.

Any person who becomes subject to owner liability for some or all of the debts, obligations, or liabilities 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, obligations, and liabilities that arise after the effective time of the articles of merger or share exchange.

Source: SL 2005, ch 239, §268.


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