Printable Format17-7103. Effect of certain transactions on liability. The liability of a corporation of this state, or the stockholders, directors or officers thereof, or the rights or remedies of the creditors thereof, or of persons doing or transacting business with the corporation, shall not in any way be lessened or impaired by the voluntary transfer or sale of the assets, properties and other rights of the corporation, or by the increase or decrease in the capital stock of the corporation, or by its merger or consolidation with one or more corporations, or other entities, or by any change or amendment in its articles of incorporation.
History: L. 1972, ch. 52, § 122; L. 2004, ch. 143, § 75; January 1, 2005.
Source or Prior Law:
17-3901; 8 Del. C. § 328.
Cross References to Related Sections:
Assertion of corporation's lack of corporate capacity or power, see 17-6104.
Issuance of additional shares of stock, see 17-6411.
Amendment of articles of incorporation, see 17-6601, 17-6602.
Increase or reduction in capital, see 17-6603, 17-6604.
Effect of merger or consolidation, see 17-6709.
Sale, lease or exchange of corporate property and assets, see 17-6801.
See also Cross References to Related Sections under article heading.