Sec. 10.20.231. Procedure for consolidation.
101 words·~1 min read·
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Sec. 10.20.231. Procedure for consolidation.
The board of directors of each corporation shall, by a resolution, approve a plan of consolidation setting out
(1)the names of the corporations proposing to consolidate, and the name of the new corporation into which they propose to consolidate, which is hereafter referred to as the new corporation;
(2)the terms and conditions of the proposed consolidation;
(3)all of the statements with respect to the new corporation required to be set out in articles of incorporation for corporations organized under this chapter;
(4)other provisions with respect to the consolidation considered necessary or desirable.