(a) The surviving or resulting limited liability company in a merger or consolidation is liable for the liabilities of the limited liability companies that are parties to the merger or consolidation.
(b) A claim, action, or other proceeding that exists at the time of the merger or consolidation and that is pending by or against a limited liability company that is a party to a merger or consolidation may be pursued as if the merger or consolidation had not taken place, or the surviving or resulting limited liability company may be substituted in the claim, action, or other proceeding.
Section: Previous 10.50.515 10.50.520 10.50.525 10.50.530 10.50.535 10.50.540 10.50.545 10.50.550 10.50.555 10.50.560 10.50.565 10.50.570 10.50.580 10.50.590 NextLast modified: November 15, 2016