15A:10-1. Procedure for merger
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/nj/title-15a/chapter-10/15a-10-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
a. Any two or more domestic corporations may merge into one of the corporations pursuant to a plan of merger approved in the manner provided in this act.
b. The board of each corporation shall approve a plan of merger setting forth:
(1)the names of the corporations proposing to merge, and the name of the corporation into which they propose to merge, which is hereinafter designated as the surviving corporation;
(2)the terms and conditions of the proposed merger, including a statement of any amendments in the certificate of incorporation of the surviving corporation to be affected by the merger;
(3)the manner and basis of converting the membership of each corporation, in whole or in part, into memberships or obligations of the surviving corporation, or into cash or other property;
(4)Any other provisions with respect to the proposed merger as are deemed necessary or desirable.
L.1983, c. 127, s. 15A:10-1, eff. Oct. 1, 1983.