§ 23-1-40-1 — Right to merge; plan of merger

Indiana § 23-1-40-1

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1: INDIANA BUSINESS CORPORATION LAW
• Ch. 40: Merger and Share Exchange

Text

(a) One (1) or more corporations may merge
into another corporation if the board of directors of each corporation
adopts and its shareholders (if required by section 3 of this chapter)
approve a plan of merger.
(b) The plan of merger must set forth:
(1) the name of each corporation planning to merge and the name
of the surviving corporation into which each other corporation
plans to merge;
(2) the terms and conditions of the merger; and
(3) the manner and basis of converting the shares of each
corporation into shares, obligations, or other securities of the
surviving or any other corporation or into cash or other property
in whole or in part.
(c) The plan of merger may set forth:
(1) amendments to the articles of incorporation of the surviving
corporation; and
(2) other provisions relating to the merger.

Legislative History

As added by P.L.149-1986, SEC.24.