Sec. 10.25.250. Contents of articles of merger.

175 words·~1 min read·/ak/title-10/chapter-25/10-25-250

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The articles of merger must recite that they are executed under this chapter and must state

(1)the name of each merging cooperative and the address of its principal office;

(2)the name of the surviving cooperative and the address of its principal office;

(3)a statement that each merging cooperative and the surviving cooperative agree to the merger;

(4)the names and addresses of the directors of the surviving cooperative;

(5)the terms and conditions of the merger and the manner of carrying it into effect, including the manner in which members of the merging cooperatives may or shall become members of the surviving cooperative.

(b)The articles of merger may contain provisions not inconsistent with this chapter that are considered necessary or advisable for the conduct of the business of the surviving cooperative.

(c)The presiding officer of each cooperative shall make and annex to the articles an affidavit stating that the provisions of this section regarding the articles were complied with by the cooperative.