Effect of amendment on existing rights, causes of action, and proceedings

Sec. 18. (a) An amendment to articles of incorporation does not affect the following: (1) A cause of action existing against or in favor of the corporation. (2) A proceeding to which the corporation is a party. (3) The preexisting rights of persons other than shareholders of the corporation. (b) An amendment changing a corporation's name does not abate a proceeding brought by or against the corporation in its former name. As added by P.L.14-1992, SEC.163.