17-6710.   Issuance of stock, bonds, securities and other obligations bycorporation surviving or resulting from merger or consolidation.When two or more corporations are merged or consolidated, thecorporation surviving or resulting from the merger or consolidation mayissue bonds or other obligations, negotiable or otherwise, and with orwithout coupons or interest certificates thereto attached, to an amountsufficient with its capital stock to provide for all the payments it willbe required to make, or obligations it will be required to assume, in orderto effect the merger or consolidation. For the purpose of securing thepayment of any such bonds and obligations, it shall be lawful for thesurviving or resulting corporation to mortgage its corporate franchise,rights, privileges and property, real, personal or mixed. The surviving orresulting corporation may issue certificated oruncertificated shares of its capital stock and othersecurities to the stockholders of the constituent corporations in exchangeor payment for the original shares, in such amount as shall be necessary inaccordance with the terms of the agreement of merger or consolidation inorder to effect such merger or consolidation in the manner and on the termsspecified in the agreement.

      History:   L. 1972, ch. 52, § 88; L. 1973, ch. 100, § 8;L. 1986, ch. 399, § 13; July 1.