§ 8-1-17.5-9 — Approval of plan by members; notice of meeting

Indiana § 8-1-17.5-9

• Jurisdiction: Indiana
• Art. 1: UTILITIES GENERALLY
• Ch. 17.5: Merger or Consolidation of Rural Electric

Text

The board of directors of each corporation that
seeks to merge or consolidate with another corporation, as authorized
by section 7 of this chapter, must obtain from the corporation's own
membership approval of a plan of merger or consolidation that
complies with section 8 of this chapter. A corporation that seeks
approval from its membership under this section shall give notice to the
corporation's members of the place, date, and time of a meeting at
which the members may vote on the plan of merger or consolidation.
The notice required by this section:
(1) must be given:
(A) not less than ten (10) days before the date of the meeting,
if the notice is given by first class or registered mail; or
(B) not less than thirty (30) days or more than sixty (60) days
before the date of the meeting, if the notice is given by a
method other than that described in clause (A);
(2) must state that a purpose of the meeting is to consider a plan
of merger or consolidation; and
(3) must include or be accompanied by a copy or summary of the
plan of merger or consolidation prepared in compliance with
section 8 of this chapter, including a copy or summary of the
proposed articles of merger or consolidation, as required by
section 8(5) of this chapter.

Legislative History

As added by P.L.18-2010, SEC.1.