Section 10.15.440. Merger or consolidation of cooperatives and domestic and foreign corporations.

   (a) One or more cooperatives may merge or consolidate with or into one or more of the following classes of business organizations:
        (1) a domestic corporation if the domestic corporation complies with AS 10.06 (Alaska Corporations Code) relating to merger or consolidation;
        (2) a foreign cooperative if the merger or consolidation is permitted by the laws of the state under which the foreign cooperative is organized and the foreign cooperative complies with the applicable provisions of those laws;
        (3) a foreign business corporation if the merger or consolidation is permitted by the laws of the state under which the foreign corporation is organized and the foreign corporation complies with the applicable provisions of those laws.
   (b) Each cooperative merging or consolidating under this section shall comply with the provisions of this chapter relating to merger or consolidation.
   (c) If the surviving or new business corporation or cooperative, as the case may be, is governed by the laws of another state, it shall comply with the provisions of the AS 10.06 (Alaska Corporations Code) with respect to foreign corporations if it is to transact business in this state.

Notes

History

(Sec. 48(1) - (3) ch 107 SLA 1959)