450.2706 Merger of domestic corporation with domestic or foreign corporation; conditions; consent; execution of certificate of merger; participation of other corporations
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450.2706 Merger of domestic corporation with domestic or foreign corporation; conditions; consent; execution of certificate of merger; participation of other corporations.
Sec. 706.
(1)If a domestic corporation has not commenced business, has not issued any shares or memberships, and has not elected a board, the corporation may merge with any domestic or foreign corporation by unanimous consent of its incorporators.
(2)If incorporators unanimously consent to a merger under subsection (1), a majority of incorporators shall execute a certificate of merger under section 707.
(3)The other domestic or foreign corporations that participate in the merger with a domestic corporation under subsection
(1)shall comply with the provisions of this act dealing with mergers that are applicable to them.
History: Add. 2014, Act 557 , Imd. Eff. Jan. 15, 2015