279.170 Consolidation of cooperatives.

227 words·~1 min read·/ky/chapter-279/279-170

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

(1)Any two

(2)or more corporations created under this chapter may enter into an

agreement for their consolidation. The agreement shall set forth the terms and

conditions of the consolidation, the name of the proposed consolidated corporation,

the number of its directors, which shall be not less than five (5), the time of the

annual meetings of the consolidated corporation and the names of the directors who

are to serve until the first annual meeting. If the agreement is approved by a

majority vote of those members voting at each corporation, with the votes cast as

authorized by KRS 279.070, the directors named in the agreement shall subscribe

and acknowledge articles in triplicate originals conforming substantially to the

original articles of incorporation, and entitled and indorsed "Articles of

Consolidation of ....."

(2)The articles of consolidation shall state:

(a)The names of the corporations being consolidated.

(b)The name of the consolidated corporation.

(c)Such other items as are required or permitted to be set forth in the original

articles of incorporation.

(3)The articles of consolidation shall be filed, recorded and approved in the same

manner, and shall take effect upon approval, as is provided in KRS 279.040 for

original articles of incorporation.

(4)The articles of consolidation may be amended in the same manner as articles of

incorporation may be amended under KRS 279.050.