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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 10. CORPORATIONS AND ASSOCIATIONS. |
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Chapter 10.15. ALASKA COOPERATIVE CORPORATION ACT. |
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Article 10.15.04. MERGER, CONSOLIDATION, AND CONVERSION OF CORPORATION INTO COOPERATIVE. |
Section 10.15.405. Approval and contents of plan of merger or consolidation.
Latest version.
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The board of each cooperative shall, by resolution adopted by each board, approve a plan of merger or consolidation setting forth
(1) the names of the cooperatives proposing to merge or consolidate, and the name of the cooperative into which they propose to merge or the name of the new cooperative into which they propose to consolidate;
(2) the terms and conditions of the proposed merger or consolidation;
(3) the effect of the proposed merger or consolidation on all members and shareholders of each of the cooperatives;
(4) in the case of a plan for consolidation, the articles of the new cooperative, which must include all of the statements required to be set forth in articles for cooperatives organized under this chapter;
(5) other provisions with respect to the proposed merger or consolidation considered necessary or desirable.
Authorities
10.15.400