Sec. 16. (a) A member of a surviving corporation or successor corporation formed under this chapter is not liable or responsible for the debts or liabilities of the surviving corporation or successor corporation.
(b) A director of a surviving corporation or successor corporation formed under this chapter is not personally liable for the acts or omissions of the surviving corporation or successor corporation if the director acts in good faith in performing the director's duties under this chapter or under the bylaws or articles of incorporation of the surviving corporation or successor corporation.
As added by P.L.18-2010, SEC.1.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 1. Utilities Generally
8-1-17.5-2. "Communications Service"
8-1-17.5-3. "Patronage Capital"
8-1-17.5-4. "Retail Electric Service"
8-1-17.5-5. "Successor Corporation"
8-1-17.5-6. "Surviving Corporation"
8-1-17.5-7. Authority to Merge or Consolidate; Status of Surviving or Successor Corporation
8-1-17.5-8. Plan of Merger or Consolidation; Contents
8-1-17.5-9. Approval of Plan by Members; Notice of Meeting
8-1-17.5-15. Requirements for Membership
8-1-17.5-17. Powers of Surviving or Successor Corporation; Authorized Services
8-1-17.5-18. Enumerated Powers of Surviving or Successor Corporation
8-1-17.5-20. Authority to Issue Obligations; Sale of Obligations
8-1-17.5-21. Issuing of Obligations; Right to Make Covenants and Agreements
8-1-17.5-22. Right of Corporation to Purchase Its Own Obligations; Cancellation Upon Purchase