185.62 Articles of merger or consolidation; effect thereof.

213 words·~1 min read·/wi/chapter-185/185-62

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

(1)Articles of merger or consolidation shall set forth the approved plan and such other information as is required by s. 185.53 . They shall be signed by 2 principal officers of each association merging or consolidating, sealed with the seal of each such association, filed and recorded as an amendment to the articles in each county where any of the cooperatives have their principal office or registered agent. Unless otherwise specified in the plan, the merger or consolidation is effective when the articles are so filed.

(1m)If after the filing of the articles under sub.

(1), but before the merger or consolidation is effective, the merger or consolidation is abandoned, as provided in s. 185.61

(5), 2 principal officers of each merging or consolidating cooperative shall sign a certificate of abandonment stating that the merger or consolidation is abandoned and the date of abandonment, and shall seal the certificate with the seal of each cooperative. The certificate of abandonment shall be filed and recorded prior to the date the merger or consolidation would otherwise be effective, with the department and in each county where the cooperatives have their principal offices or registered agents, in the manner provided in s. 185.82 .