In a merger, which of the following is true regarding the property of the absorbed corporation?
A) It must be sold and distributed to the absorbed corporation's shareholders.
B) It must be held in trust for at least one year to satisfy claims of creditors.
C) It is obtained by the surviving corporation.
D) It must be held in trust for at least six months to satisfy claims of creditors.
E) It must be placed within the jurisdiction of the secretary of state for at least one year in order to satisfy claims of creditors.

Question

Quizplus · Accepted Answer

In a merger, the property of the absorbed corporation is obtained by the surviving corporation. This is a standard procedure in mergers where the assets and liabilities of the absorbed company become those of the surviving entity.

In a Merger, Which of the Following Is True Regarding