Oklahoma § 18-1089 - Powers of Corporation Surviving or Resulting from Merger

§ 18-1089. Powers of Corporation Surviving or Resulting from Merger

or Consolidation - Issuance of Stock, Bonds or Other Indebtedness.

POWERS OF CORPORATION SURVIVING OR RESULTING FROM MERGER

OR CONSOLIDATION; ISSUANCE OF STOCK, BONDS OR OTHER INDEBTEDNESS

When two or more corporations are merged or consolidated, the

corporation surviving or resulting from the merger may issue bonds

or other obligations, negotiable or otherwise, and with or without

coupons or interest certificates thereto attached, to an amount

sufficient with its capital stock to provide for all payments it

will be required to make, or obligations it will be required to

assume, in order to effect the merger or consolidation. For the

purpose of securing the payment of any such bonds and obligations,

it shall be lawful for the surviving or resulting corporation to

mortgage its corporate franchise, rights, privileges and property,

real, personal or mixed. The surviving or resulting corporation may

issue certificates of its capital stock or uncertificated stock if

authorized to do so and other securities to the shareholders of the

constituent corporations in exchange or payment for the original

shares, in such amount as shall be necessary in accordance with the

terms of the agreement of merger or consolidation in order to effect

such merger or consolidation in the manner and on the terms

specified in the agreement.

Added by Laws 1986, c. 292, § 89, eff. Nov. 1, 1986.

Oklahoma Statutes - Title 18. Corporations