Financial Holding Company Act Article 35

Except that the obligations arising from the activities of the divided business can be separate from the obligations of the company before the division, the company that is taking over the business after the division shall be jointly and severally liable for the obligations of the company before the division up to the value of the property of the business it takes over; provided, that, any claim of joint and several liability [under this section] shall lapse if it is not exercised within two (2) years after the date fixed of division.