§ 29-1015.02 — Merger.

District of Columbia § 29-1015.02

• Jurisdiction: District of Columbia
• Title 29: Business Organizations. [Enacted title]
• Ch. 10: Limited Cooperative Associations.
• Subch. XV: Merger.

Text

(a) One or more constituent limited cooperative associations may merge with one or more other constituent associations pursuant to this subchapter and a plan of merger. If any of the constituent associations is a foreign cooperative association, the law of the jurisdiction in which it was formed shall authorize the merger.

(b) A plan of merger shall be in a record and shall include:

(1) The name and jurisdiction of organization of each constituent limited cooperative association;

(2) The name and jurisdiction of organization of the surviving limited cooperative association;

(3) The terms and conditions of the merger, including the manner and basis for converting the interests in each constituent association into any combination of money, interests in any entity, and other consideration;

(4) If the surviving association is to be created by the merger, the surviving association’s organic rules; and

(5) If the surviving association is not to be created by the merger, any amendments to be made by the merger to the surviving association’s organic rules.

Legislative History

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720