Right of corporation to purchase its own obligations;

cancellation upon purchase Sec. 22. 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. As added by P.L.18-2010, SEC.1.