The stock company acquired under a plan of exchange and the acquiring corporation shall be in all respects separate and distinct corporations, with neither corporation having any liability to the creditors or policyholders, if any, or shareholders of the other for any acts or omissions of the officers, directors, or shareholders of either or both of such corporations.
Neb. Rev. Stat. § 44-255
Plan of exchange; corporate status
Laws 1973, LB 296, § 8; R.S.1943, (1988), § 44-133.08.
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.