Section 122. Purchase of stock, assets or business of other corporations  


Latest version.
  • An agency corporation organized under this article may purchase stock or
      property  or  any  interest  in  any  property  of  any  person,   firm,
      corporation  or  association,  and  may  discharge  the  obligations  so
      incurred wholly or in part, by  exchanging  for  the  acquired  interest
      shares  of  its  preferred capital stock to an amount which at par value
      would equal the fair market value of the stock or interest so  purchased
      as determined by the board of directors.
        A  corporation  organized  under  the provisions of this article shall
      have the right to hold, own and exercise all rights of ownership in, and
      to sell, transfer or pledge, shares of capital stock  or  bonds  of  any
      other  corporation engaged in any related activity including, but not as
      a limitation, the warehousing, handling or marketing,  in  whole  or  in
      part, of any of the products handled by the corporation.