§ 260. Powers of corporation surviving or resulting from merger or consolidation; issuance of stock, bonds or other indebtedness

The surviving or resulting corporation may issue obligations to an amount sufficient with its capital stock to provide for all the payments or obligations necessary to effect the merger or consolidation. To secure the payment of such obligations, the surviving or resulting corporation may mortgage its assets. The surviving or resulting corporation may issue stock and other securities to the stockholders of the constituent corporations in exchange or payment for the original shares, in accordance with the terms of the agreement of merger or consolidation.