IC 8-4-16
Chapter 16. Consolidation of Certain Railroads
IC 8-4-16-1 Authority for operation
Sec. 1. Any railroad or other company organized under the laws
of this state, or of this state and any other state or states, and owning
or operating, or authorized by its charter to construct or acquire, a
railroad, bridge or tunnel, either wholly within or partly within and
partly without this state, may consolidate its capital stock, franchises
and property with the capital stock, franchises and property of any
other railroad, tunnel or bridge company or companies organized
under the laws of this state, or of this state and any other state or
states, or of any other state or states, or may merge or be merged into
any such other company, whenever the two (2) or more railroads of
the companies so to be consolidated or merged, their tunnels, bridges
or branches or any part thereof, or the lines or routes of their roads
if not constructed, shall or may connect either directly or over the
intervening line or lines of any one (1) or more railroad companies,
and any such consolidated or surviving company may thereafter
construct or finish the construction of such line of railroad if not
previously constructed, and may operate the same, subject to all the
provisions of law applicable to such railroad company. (Formerly: Acts 1937, c.59, s.1; Acts 1955, c.342, s.1.)
IC 8-4-16-2 Joint agreement; stocks and bonds
Sec. 2. Such consolidation or merger shall be made in the
following manner:
(1) The directors of the companies proposing to consolidate or
merge may enter into a joint agreement, under the corporate
seal of each company, for the consolidation or merger of such
companies, and prescribing the terms and conditions thereof,
the mode of carrying the same into effect, the name of the new
company in the case of a consolidation or of the company that
is to survive in the case of a merger, the number and names of
the directors and other officers thereof, and in case of a
consolidation who shall be the first directors and officers of the
new company and their places of residence, and either the
amount of the authorized capital stock of the new or surviving
company and the number and par value of the shares of which
it is to consist or, if the new or surviving company is to issue
shares without par value or shares of more than one (1) class,
the statements required in such case by IC 8-4-1-1, and the
manner of converting into the capital stock of the new or
surviving company, or of otherwise disposing of, the capital
stock of each company, the capital stock of which is to be so
converted or disposed of, and how and when the directors shall
be chosen, with such other details as they shall deem necessary
to perfect such consolidation or merger; provided, however, that
in case of a merger it shall not be necessary for such joint
agreement to contain the provisions above specified with regard
to the directors and officers and capital stock of the surviving
company unless, and then only to the extent that, changes in
respect to such matters are to be made by such merger
agreement. Such joint agreement may also provide for the issue
of shares of the capital stock of the new or surviving company
in exchange for or conversion of bonds or other evidences of
debt of each, all or any of the companies so consolidated or
merged and may prescribe the manner, terms, and conditions of
effecting such exchange or conversion. But in no case shall the
capital stock, bonds, and other evidences of debt of the
company formed by such consolidation or of the surviving
company in case of a merger, including any shares of its capital
stock issued in exchange for or conversion of bonds or other
evidences of debt as herein provided, exceed the sum of the
capital stock, bonds, and other evidences of debt of the
companies parties to such consolidation or merger, at the par
value thereof or, in the case of stock without par value, the
amount of the consideration received therefor or the amount of
the stated capital applicable thereto if greater than the amount
of such consideration. Nor shall any bonds or other evidences
of debt be issued as a consideration for such consolidation or
merger. If any of the companies parties to such consolidation or
merger is a corporation organized under the laws of any other
state or states, or of any other state or states and this state, the
joint agreement herein provided for may fix the location of the
principal office of the new or surviving company in any of said
states.
(2) If the holders of outstanding shares of stocks of any of the
companies parties to such joint agreement representing
two-thirds (2/3) (or such greater proportion as the articles of
association, consolidation, or merger under which such
company was formed may require) of the voting power of all
the stock of such company entitled to vote thereon shall by
consent in writing, acknowledged as are deeds entitled to be
recorded and endorsed upon or annexed to such joint
agreement, signify their assent thereto, it shall be deemed and
taken as the adoption of such agreement by and on behalf of
such company. If such agreement shall not be assented to in
writing by stockholders of any of the companies parties thereto,
as provided in this section, such agreement shall be submitted
to the stockholders of such company at a meeting thereof called
for the purpose of considering the same. Due notice of the time
and place of holding such meeting, and the object thereof, shall
be given by such company to its stockholders by written or
printed notices addressed to each of the persons in whose names
the capital stock of such company stands on the books thereof,
and delivered to such persons respectively or sent to them by
mail if their postoffice address is known to the company, at
least thirty (30) days before the time of holding such meeting,
and also by a general notice published at least once a week for
four (4) weeks successively in some newspaper published in the
city, town, or county where such company has its principal
office or place of business. At such meeting of stockholders,
such agreement shall be considered and a vote by ballot taken
for the adoption or rejection of the same and if the votes of the
holders of outstanding shares of stock of such company
representing at least two-thirds (2/3) (or such greater proportion
of said articles may require) of the voting power of all the stock
of such company entitled to vote thereon, present and voting in
person or by proxy, shall be for the adoption of such agreement,
then that fact shall be certified thereon by the secretary or
assistant secretary of such company, under the seal thereof.
When such agreement shall have been consented to or adopted
by stockholders of each of the companies parties thereto, as
provided in this section, such agreement, or a certified copy
thereof, shall be filed in the office of the secretary of state and
shall thenceforth be deemed and taken to be the agreement and
act of consolidation or merger of the companies parties thereto,
and thereafter such companies shall be one (1) company by the
name provided in such agreement, but such act of consolidation
or merger shall not release such new or surviving company from
any of the restrictions, liabilities, or duties of the several
companies parties to such consolidation or merger. (Formerly: Acts 1937, c.59, s.2.) As amended by P.L.62-1984,
SEC.71.
IC 8-4-16-3 Vesting of rights, privileges, and franchises in new or surviving
company; bond
Sec. 3. Upon the consummation of such consolidation or merger,
all the rights, privileges, exemptions, and franchises of each of the
companies, parties to the same, and all the property, real, personal,
and mixed, and all the debts due on whatever account to any of them,
as well as all stock subscriptions and other things in action belonging
to any of them, shall be taken and deemed to be transferred to and
vested in, or to remain vested in, such new or surviving company,
without further act or deed; and all claims, demands, property, rights
of way, and every other interest shall be as effectually the property
of the new or surviving company as they were formerly of the
companies parties to such consolidation or merger; and the title to all
real estate, acquired by deed or otherwise, under the laws of this
state, vested in any of such companies, parties to such consolidation
or merger, shall not be deemed to revert or be in any way impaired
by reason of this chapter or anything done by virtue thereof, but shall
be or remain vested in the new or surviving company by virtue of
such consolidation or merger. And it shall be lawful for any railroad
company formed on or after June 7, 1937, by the consolidation of
one (1) or more railroad companies organized under the laws of this
state, or under the laws of this state and any other state or states, with
one (1) or more railroad companies or corporations organized under
the laws of any other state, or the laws of this state and any other
state or states, or in the case of a merger of any such companies for
the surviving company, to issue its bonds for the purpose of paying
or retiring any bonds theretofore issued by any of said companies
parties to such consolidation or merger, or for any purpose and to the
amount authorized by the laws of the state or states under which any
of said companies was organized, and to secure the same by
mortgage upon its real or personal property, or both, franchises,
rights, and privileges, whether within or without this state, and
subject to the remedies for the enforcement of the same under the
laws of any of said states. Any such consolidated or surviving
company shall have the same right as any other railroad company
organized under the laws of this state to confer on the holders of any
bonds issued by it the right to convert the same into capital stock of
the company. Nothing in this chapter shall be construed to compel
any bondholder to accept payment in whole or in part for any bond
or bonds held by him or to surrender the same before they shall
become due. (Formerly: Acts 1937, c.59, s.3.) As amended by P.L.62-1984,
SEC.72.
IC 8-4-16-4 Survival of actions; creditors' rights; liens; survival
Sec. 4. The rights of all creditors of, and all liens upon the
property of, any of such companies, parties to such consolidation or
merger, shall be preserved unimpaired, and the respective companies
shall be deemed to continue in existence to preserve the same, and all
debts and liabilities incurred by any of such companies shall
thenceforth attach to such new or surviving company, and be
enforceable against it and its property to the same extent as if
incurred or contracted by it. No actions or proceedings in which any
of said such companies is a party shall abate or be discontinued by
reason of such consolidation or merger, but may be conducted to
final judgment in the name of such company, or such new or
surviving company may be, by order of the court, on motion
substituted as a party. (Formerly: Acts 1937, c.59, s.4.)
IC 8-4-16-5
Repealed
(Repealed by P.L.1-1989, SEC.75.)
IC 8-4-16
Chapter 16. Consolidation of Certain Railroads
IC 8-4-16-1 Authority for operation
Sec. 1. Any railroad or other company organized under the laws
of this state, or of this state and any other state or states, and owning
or operating, or authorized by its charter to construct or acquire, a
railroad, bridge or tunnel, either wholly within or partly within and
partly without this state, may consolidate its capital stock, franchises
and property with the capital stock, franchises and property of any
other railroad, tunnel or bridge company or companies organized
under the laws of this state, or of this state and any other state or
states, or of any other state or states, or may merge or be merged into
any such other company, whenever the two (2) or more railroads of
the companies so to be consolidated or merged, their tunnels, bridges
or branches or any part thereof, or the lines or routes of their roads
if not constructed, shall or may connect either directly or over the
intervening line or lines of any one (1) or more railroad companies,
and any such consolidated or surviving company may thereafter
construct or finish the construction of such line of railroad if not
previously constructed, and may operate the same, subject to all the
provisions of law applicable to such railroad company. (Formerly: Acts 1937, c.59, s.1; Acts 1955, c.342, s.1.)
IC 8-4-16-2 Joint agreement; stocks and bonds
Sec. 2. Such consolidation or merger shall be made in the
following manner:
(1) The directors of the companies proposing to consolidate or
merge may enter into a joint agreement, under the corporate
seal of each company, for the consolidation or merger of such
companies, and prescribing the terms and conditions thereof,
the mode of carrying the same into effect, the name of the new
company in the case of a consolidation or of the company that
is to survive in the case of a merger, the number and names of
the directors and other officers thereof, and in case of a
consolidation who shall be the first directors and officers of the
new company and their places of residence, and either the
amount of the authorized capital stock of the new or surviving
company and the number and par value of the shares of which
it is to consist or, if the new or surviving company is to issue
shares without par value or shares of more than one (1) class,
the statements required in such case by IC 8-4-1-1, and the
manner of converting into the capital stock of the new or
surviving company, or of otherwise disposing of, the capital
stock of each company, the capital stock of which is to be so
converted or disposed of, and how and when the directors shall
be chosen, with such other details as they shall deem necessary
to perfect such consolidation or merger; provided, however, that
in case of a merger it shall not be necessary for such joint
agreement to contain the provisions above specified with regard
to the directors and officers and capital stock of the surviving
company unless, and then only to the extent that, changes in
respect to such matters are to be made by such merger
agreement. Such joint agreement may also provide for the issue
of shares of the capital stock of the new or surviving company
in exchange for or conversion of bonds or other evidences of
debt of each, all or any of the companies so consolidated or
merged and may prescribe the manner, terms, and conditions of
effecting such exchange or conversion. But in no case shall the
capital stock, bonds, and other evidences of debt of the
company formed by such consolidation or of the surviving
company in case of a merger, including any shares of its capital
stock issued in exchange for or conversion of bonds or other
evidences of debt as herein provided, exceed the sum of the
capital stock, bonds, and other evidences of debt of the
companies parties to such consolidation or merger, at the par
value thereof or, in the case of stock without par value, the
amount of the consideration received therefor or the amount of
the stated capital applicable thereto if greater than the amount
of such consideration. Nor shall any bonds or other evidences
of debt be issued as a consideration for such consolidation or
merger. If any of the companies parties to such consolidation or
merger is a corporation organized under the laws of any other
state or states, or of any other state or states and this state, the
joint agreement herein provided for may fix the location of the
principal office of the new or surviving company in any of said
states.
(2) If the holders of outstanding shares of stocks of any of the
companies parties to such joint agreement representing
two-thirds (2/3) (or such greater proportion as the articles of
association, consolidation, or merger under which such
company was formed may require) of the voting power of all
the stock of such company entitled to vote thereon shall by
consent in writing, acknowledged as are deeds entitled to be
recorded and endorsed upon or annexed to such joint
agreement, signify their assent thereto, it shall be deemed and
taken as the adoption of such agreement by and on behalf of
such company. If such agreement shall not be assented to in
writing by stockholders of any of the companies parties thereto,
as provided in this section, such agreement shall be submitted
to the stockholders of such company at a meeting thereof called
for the purpose of considering the same. Due notice of the time
and place of holding such meeting, and the object thereof, shall
be given by such company to its stockholders by written or
printed notices addressed to each of the persons in whose names
the capital stock of such company stands on the books thereof,
and delivered to such persons respectively or sent to them by
mail if their postoffice address is known to the company, at
least thirty (30) days before the time of holding such meeting,
and also by a general notice published at least once a week for
four (4) weeks successively in some newspaper published in the
city, town, or county where such company has its principal
office or place of business. At such meeting of stockholders,
such agreement shall be considered and a vote by ballot taken
for the adoption or rejection of the same and if the votes of the
holders of outstanding shares of stock of such company
representing at least two-thirds (2/3) (or such greater proportion
of said articles may require) of the voting power of all the stock
of such company entitled to vote thereon, present and voting in
person or by proxy, shall be for the adoption of such agreement,
then that fact shall be certified thereon by the secretary or
assistant secretary of such company, under the seal thereof.
When such agreement shall have been consented to or adopted
by stockholders of each of the companies parties thereto, as
provided in this section, such agreement, or a certified copy
thereof, shall be filed in the office of the secretary of state and
shall thenceforth be deemed and taken to be the agreement and
act of consolidation or merger of the companies parties thereto,
and thereafter such companies shall be one (1) company by the
name provided in such agreement, but such act of consolidation
or merger shall not release such new or surviving company from
any of the restrictions, liabilities, or duties of the several
companies parties to such consolidation or merger. (Formerly: Acts 1937, c.59, s.2.) As amended by P.L.62-1984,
SEC.71.
IC 8-4-16-3 Vesting of rights, privileges, and franchises in new or surviving
company; bond
Sec. 3. Upon the consummation of such consolidation or merger,
all the rights, privileges, exemptions, and franchises of each of the
companies, parties to the same, and all the property, real, personal,
and mixed, and all the debts due on whatever account to any of them,
as well as all stock subscriptions and other things in action belonging
to any of them, shall be taken and deemed to be transferred to and
vested in, or to remain vested in, such new or surviving company,
without further act or deed; and all claims, demands, property, rights
of way, and every other interest shall be as effectually the property
of the new or surviving company as they were formerly of the
companies parties to such consolidation or merger; and the title to all
real estate, acquired by deed or otherwise, under the laws of this
state, vested in any of such companies, parties to such consolidation
or merger, shall not be deemed to revert or be in any way impaired
by reason of this chapter or anything done by virtue thereof, but shall
be or remain vested in the new or surviving company by virtue of
such consolidation or merger. And it shall be lawful for any railroad
company formed on or after June 7, 1937, by the consolidation of
one (1) or more railroad companies organized under the laws of this
state, or under the laws of this state and any other state or states, with
one (1) or more railroad companies or corporations organized under
the laws of any other state, or the laws of this state and any other
state or states, or in the case of a merger of any such companies for
the surviving company, to issue its bonds for the purpose of paying
or retiring any bonds theretofore issued by any of said companies
parties to such consolidation or merger, or for any purpose and to the
amount authorized by the laws of the state or states under which any
of said companies was organized, and to secure the same by
mortgage upon its real or personal property, or both, franchises,
rights, and privileges, whether within or without this state, and
subject to the remedies for the enforcement of the same under the
laws of any of said states. Any such consolidated or surviving
company shall have the same right as any other railroad company
organized under the laws of this state to confer on the holders of any
bonds issued by it the right to convert the same into capital stock of
the company. Nothing in this chapter shall be construed to compel
any bondholder to accept payment in whole or in part for any bond
or bonds held by him or to surrender the same before they shall
become due. (Formerly: Acts 1937, c.59, s.3.) As amended by P.L.62-1984,
SEC.72.
IC 8-4-16-4 Survival of actions; creditors' rights; liens; survival
Sec. 4. The rights of all creditors of, and all liens upon the
property of, any of such companies, parties to such consolidation or
merger, shall be preserved unimpaired, and the respective companies
shall be deemed to continue in existence to preserve the same, and all
debts and liabilities incurred by any of such companies shall
thenceforth attach to such new or surviving company, and be
enforceable against it and its property to the same extent as if
incurred or contracted by it. No actions or proceedings in which any
of said such companies is a party shall abate or be discontinued by
reason of such consolidation or merger, but may be conducted to
final judgment in the name of such company, or such new or
surviving company may be, by order of the court, on motion
substituted as a party. (Formerly: Acts 1937, c.59, s.4.)
IC 8-4-16-5
Repealed
(Repealed by P.L.1-1989, SEC.75.)
IC 8-4-16
Chapter 16. Consolidation of Certain Railroads
IC 8-4-16-1 Authority for operation
Sec. 1. Any railroad or other company organized under the laws
of this state, or of this state and any other state or states, and owning
or operating, or authorized by its charter to construct or acquire, a
railroad, bridge or tunnel, either wholly within or partly within and
partly without this state, may consolidate its capital stock, franchises
and property with the capital stock, franchises and property of any
other railroad, tunnel or bridge company or companies organized
under the laws of this state, or of this state and any other state or
states, or of any other state or states, or may merge or be merged into
any such other company, whenever the two (2) or more railroads of
the companies so to be consolidated or merged, their tunnels, bridges
or branches or any part thereof, or the lines or routes of their roads
if not constructed, shall or may connect either directly or over the
intervening line or lines of any one (1) or more railroad companies,
and any such consolidated or surviving company may thereafter
construct or finish the construction of such line of railroad if not
previously constructed, and may operate the same, subject to all the
provisions of law applicable to such railroad company. (Formerly: Acts 1937, c.59, s.1; Acts 1955, c.342, s.1.)
IC 8-4-16-2 Joint agreement; stocks and bonds
Sec. 2. Such consolidation or merger shall be made in the
following manner:
(1) The directors of the companies proposing to consolidate or
merge may enter into a joint agreement, under the corporate
seal of each company, for the consolidation or merger of such
companies, and prescribing the terms and conditions thereof,
the mode of carrying the same into effect, the name of the new
company in the case of a consolidation or of the company that
is to survive in the case of a merger, the number and names of
the directors and other officers thereof, and in case of a
consolidation who shall be the first directors and officers of the
new company and their places of residence, and either the
amount of the authorized capital stock of the new or surviving
company and the number and par value of the shares of which
it is to consist or, if the new or surviving company is to issue
shares without par value or shares of more than one (1) class,
the statements required in such case by IC 8-4-1-1, and the
manner of converting into the capital stock of the new or
surviving company, or of otherwise disposing of, the capital
stock of each company, the capital stock of which is to be so
converted or disposed of, and how and when the directors shall
be chosen, with such other details as they shall deem necessary
to perfect such consolidation or merger; provided, however, that
in case of a merger it shall not be necessary for such joint
agreement to contain the provisions above specified with regard
to the directors and officers and capital stock of the surviving
company unless, and then only to the extent that, changes in
respect to such matters are to be made by such merger
agreement. Such joint agreement may also provide for the issue
of shares of the capital stock of the new or surviving company
in exchange for or conversion of bonds or other evidences of
debt of each, all or any of the companies so consolidated or
merged and may prescribe the manner, terms, and conditions of
effecting such exchange or conversion. But in no case shall the
capital stock, bonds, and other evidences of debt of the
company formed by such consolidation or of the surviving
company in case of a merger, including any shares of its capital
stock issued in exchange for or conversion of bonds or other
evidences of debt as herein provided, exceed the sum of the
capital stock, bonds, and other evidences of debt of the
companies parties to such consolidation or merger, at the par
value thereof or, in the case of stock without par value, the
amount of the consideration received therefor or the amount of
the stated capital applicable thereto if greater than the amount
of such consideration. Nor shall any bonds or other evidences
of debt be issued as a consideration for such consolidation or
merger. If any of the companies parties to such consolidation or
merger is a corporation organized under the laws of any other
state or states, or of any other state or states and this state, the
joint agreement herein provided for may fix the location of the
principal office of the new or surviving company in any of said
states.
(2) If the holders of outstanding shares of stocks of any of the
companies parties to such joint agreement representing
two-thirds (2/3) (or such greater proportion as the articles of
association, consolidation, or merger under which such
company was formed may require) of the voting power of all
the stock of such company entitled to vote thereon shall by
consent in writing, acknowledged as are deeds entitled to be
recorded and endorsed upon or annexed to such joint
agreement, signify their assent thereto, it shall be deemed and
taken as the adoption of such agreement by and on behalf of
such company. If such agreement shall not be assented to in
writing by stockholders of any of the companies parties thereto,
as provided in this section, such agreement shall be submitted
to the stockholders of such company at a meeting thereof called
for the purpose of considering the same. Due notice of the time
and place of holding such meeting, and the object thereof, shall
be given by such company to its stockholders by written or
printed notices addressed to each of the persons in whose names
the capital stock of such company stands on the books thereof,
and delivered to such persons respectively or sent to them by
mail if their postoffice address is known to the company, at
least thirty (30) days before the time of holding such meeting,
and also by a general notice published at least once a week for
four (4) weeks successively in some newspaper published in the
city, town, or county where such company has its principal
office or place of business. At such meeting of stockholders,
such agreement shall be considered and a vote by ballot taken
for the adoption or rejection of the same and if the votes of the
holders of outstanding shares of stock of such company
representing at least two-thirds (2/3) (or such greater proportion
of said articles may require) of the voting power of all the stock
of such company entitled to vote thereon, present and voting in
person or by proxy, shall be for the adoption of such agreement,
then that fact shall be certified thereon by the secretary or
assistant secretary of such company, under the seal thereof.
When such agreement shall have been consented to or adopted
by stockholders of each of the companies parties thereto, as
provided in this section, such agreement, or a certified copy
thereof, shall be filed in the office of the secretary of state and
shall thenceforth be deemed and taken to be the agreement and
act of consolidation or merger of the companies parties thereto,
and thereafter such companies shall be one (1) company by the
name provided in such agreement, but such act of consolidation
or merger shall not release such new or surviving company from
any of the restrictions, liabilities, or duties of the several
companies parties to such consolidation or merger. (Formerly: Acts 1937, c.59, s.2.) As amended by P.L.62-1984,
SEC.71.
IC 8-4-16-3 Vesting of rights, privileges, and franchises in new or surviving
company; bond
Sec. 3. Upon the consummation of such consolidation or merger,
all the rights, privileges, exemptions, and franchises of each of the
companies, parties to the same, and all the property, real, personal,
and mixed, and all the debts due on whatever account to any of them,
as well as all stock subscriptions and other things in action belonging
to any of them, shall be taken and deemed to be transferred to and
vested in, or to remain vested in, such new or surviving company,
without further act or deed; and all claims, demands, property, rights
of way, and every other interest shall be as effectually the property
of the new or surviving company as they were formerly of the
companies parties to such consolidation or merger; and the title to all
real estate, acquired by deed or otherwise, under the laws of this
state, vested in any of such companies, parties to such consolidation
or merger, shall not be deemed to revert or be in any way impaired
by reason of this chapter or anything done by virtue thereof, but shall
be or remain vested in the new or surviving company by virtue of
such consolidation or merger. And it shall be lawful for any railroad
company formed on or after June 7, 1937, by the consolidation of
one (1) or more railroad companies organized under the laws of this
state, or under the laws of this state and any other state or states, with
one (1) or more railroad companies or corporations organized under
the laws of any other state, or the laws of this state and any other
state or states, or in the case of a merger of any such companies for
the surviving company, to issue its bonds for the purpose of paying
or retiring any bonds theretofore issued by any of said companies
parties to such consolidation or merger, or for any purpose and to the
amount authorized by the laws of the state or states under which any
of said companies was organized, and to secure the same by
mortgage upon its real or personal property, or both, franchises,
rights, and privileges, whether within or without this state, and
subject to the remedies for the enforcement of the same under the
laws of any of said states. Any such consolidated or surviving
company shall have the same right as any other railroad company
organized under the laws of this state to confer on the holders of any
bonds issued by it the right to convert the same into capital stock of
the company. Nothing in this chapter shall be construed to compel
any bondholder to accept payment in whole or in part for any bond
or bonds held by him or to surrender the same before they shall
become due. (Formerly: Acts 1937, c.59, s.3.) As amended by P.L.62-1984,
SEC.72.
IC 8-4-16-4 Survival of actions; creditors' rights; liens; survival
Sec. 4. The rights of all creditors of, and all liens upon the
property of, any of such companies, parties to such consolidation or
merger, shall be preserved unimpaired, and the respective companies
shall be deemed to continue in existence to preserve the same, and all
debts and liabilities incurred by any of such companies shall
thenceforth attach to such new or surviving company, and be
enforceable against it and its property to the same extent as if
incurred or contracted by it. No actions or proceedings in which any
of said such companies is a party shall abate or be discontinued by
reason of such consolidation or merger, but may be conducted to
final judgment in the name of such company, or such new or
surviving company may be, by order of the court, on motion
substituted as a party. (Formerly: Acts 1937, c.59, s.4.)
IC 8-4-16-5
Repealed
(Repealed by P.L.1-1989, SEC.75.)
