§ 10A-3-5.01 — Procedure for Merger

Alabama § 10A-3-5.01

• Jurisdiction: Alabama
• Title 10A: Alabama Business and Nonprofit Entities Code
• Ch. 3: Nonprofit Corporations
• Art. 5: Merger and Consolidation

Text

(a) Any two or more domestic nonprofit corporations may merge into one of the corporations pursuant to a plan of merger approved in the manner provided in this chapter.
(b) Each nonprofit corporation shall adopt a plan of merger setting forth:
(1) The names of the nonprofit corporations proposing to merge, and the name of the nonprofit corporation into which they propose to merge, which is hereinafter designated as the surviving nonprofit corporation.
(2) The terms and conditions of the proposed merger.
(3) A statement of any changes in the certificate of formation of the surviving nonprofit corporation to be effected by the merger.
(4) The other provisions with respect to the proposed merger as are deemed necessary or desirable.

Legislative History

(Acts 1984, No. 84-290, p. 502, §41; §10-3A-100; amended and renumbered by Act 2009-513, p. 967, §187.)