Current through 2024, ch. 69
Section 53-8-41 - Procedure for consolidationA. Any two or more domestic corporations may consolidate into a new corporation pursuant to a plan of consolidation approved in the manner provided in the Nonprofit Corporation Act.B. Each corporation shall adopt a plan of consolidation setting forth: (1) the names of the corporations proposing to consolidate, and the name of the new corporation into which they propose to consolidate, which is hereinafter designated as the new corporation;(2) the terms and conditions of the proposed consolidation;(3) with respect to the new corporation, all of the statements required to be set forth in articles of incorporation for corporations organized under the Nonprofit Corporation Act; and(4) such other provisions with respect to the proposed consolidation as are deemed necessary or desirable.1953 Comp., § 51-14-83, enacted by Laws 1975, ch. 217, § 41.