47-15-14. Amendment converting corporation to cooperative.
85 words·~1 min read·
/sd/title-47/chapter-47-15/47-15-14·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any corporation may convert itself into a cooperative by adopting an amendment to its articles by which it elects to become subject to chapters 47-15 to 47-20 , inclusive, together with changes in its articles required by said chapters and other desirable changes permitted by said chapters. Such amendment shall be adopted, filed, and recorded in the manner provided by the law then applicable to the corporation and the conversion shall be effective upon issuance of the certificate of amendment by the secretary of state.