All the rights, privileges, immunities, and franchises and all property, real and personal, including without limitation applications for membership, all debts due on whatever account and all other choses in action, of each of the consolidating or merging cooperatives shall be deemed to be transferred to and vested in the new or surviving cooperative without further act or deed.
S.D. Codified Laws § 47-21-32
Transfer of rights and obligations to surviving cooperative
Known as the Electric Cooperative Law
The act spans §§ 47–47 (92 sections).
Source: SL 1947, ch 33, § 19; SDC Supp 1960, § 11.2219 (2).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.