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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 380

previous next Effective - 01 Jan 1985, see footnotebottom

  380.281.  Mergers of certain mutual companies, procedure — merger plan, required contents. — Any two or more companies operating under the provisions of sections 380.201 to 380.591 may merge into one of the corporations; and companies operating under the provisions of sections 380.011 to 380.151 may merge into a corporation operating under sections 380.201 to 380.591 in the following manner:  The board of directors of each corporation shall approve a plan of merger and direct the submission of the plan to a vote at a meeting of its members.  The plan of merger shall set forth:

  (1)  The names of the corporations proposing to merge, and the name of the corporation into which they propose to merge, which is herein designated as "the surviving corporation";

  (2)  The terms and conditions of the proposed merger and the mode of carrying it into effect;

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

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

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(L. 1984 H.B. 1498)

Effective 1-01-85


---- end of effective   01 Jan 1985 ----

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