3-1-30. Authorization for merger or consolidation with other associations or corporations -- Laws governing surviving or new corporation.
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3-1-30. Authorization for merger or consolidation with other associations or corporations -- Laws governing surviving or new corporation.
(1)Pursuant to a plan approved under this chapter, an agricultural cooperative association may merge or consolidate with:
(a)one or more agricultural cooperative associations;
(b)one or more domestic corporations governed by:
(i)Title 16, Chapter 10a, Utah Revised Business Corporation Act ; or
(ii)Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act ; or
(c)any combination of associations or corporations referred to in Subsection (1)(a) or
(b).
(2)The surviving or new corporation shall be governed by:
(a)the Uniform Agricultural Cooperative Association Act; or
(b)Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act .
Amended by Chapter 300 , 2000 General Session