47-25-1. Merger of corporations--Plan of merger--Contents of plan.

112 words·~1 min read·/sd/title-47/chapter-47-25/47-25-1

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

Any two or more domestic corporations may merge into one of such corporations pursuant to a plan of merger approved in the manner provided in this chapter.

Each corporation shall adopt a plan of merger setting forth:

(1)The names of the corporation 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;

(3)A statement of any changes in the articles of incorporation of the surviving corporation to be effected by such merger;

(4)Such other provisions with respect to the proposed merger as are deemed necessary or desirable.