Assumption of existing indebtedness.

Miss. Code Ann. § 19-5-257
in effect
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Upon acquiring such nonprofit, nonshare corporation or utility district, the political subdivision, utility district or nonprofit, nonshare corporation shall assume any existing indebtedness of the corporation or utility district and be responsible for such indebtedness.

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Miss. Code Ann. § 19-5-257 — Assumption of existing indebtedness | Mississippi Code Annotated | Corpus