Statutes, codes, and regulations
Indiana Code
Title 8 - UTILITIES AND TRANSPORTATIONArticle 1 - UTILITIES GENERALLY
Chapter 17.5 - MERGER OR CONSOLIDATION OF RURAL ELECTRIC MEMBERSHIP CORPORATIONS AND TELEPHONE COOPERATIVE CORPORATIONS
Section 8-1-17.5-22 - Right of corporation to purchase its own obligations; cancellation upon purchase

Ind. Code § 8-1-17.5-22

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Current through P.L. 171-2024
Section 8-1-17.5-22 - Right of corporation to purchase its own obligations; cancellation upon purchase

A surviving corporation or successor corporation formed under this chapter may, out of any funds available for that purpose, purchase:

(1) any obligations issued by the surviving corporation or successor corporation; and
(2) any accrued interest on the obligations;

at a price determined by resolution of the board. Any obligation described in this section shall be cancelled upon its purchase by the surviving corporation or successor corporation.

IC 8-1-17.5-22

As added by P.L. 18-2010, SEC.1.