New Mexico § 53-8-41 Procedure for consolidation

New Mexico Statutes

§ 53-8-41 — Procedure for consolidation

New Mexico·Ch. 53 Corporations·Art. 8 Nonprofit Corporations

A. Any two or more domestic corporations may consolidate into a new corporation pursuant to a plan of consolidation approved in the manner provided in the Nonprofit Corporation Act. B. Each corporation shall adopt a plan of consolidation setting forth:

(1)the names of the corporations proposing to consolidate, and the name of the new corporation into which they propose to consolidate, which is hereinafter designated as the new corporation;

(2)the terms and conditions of the proposed consolidation;

(3)with respect to the new corporation, all of the statements required to be set forth in articles of incorporation for corporations organized under the Nonprofit Corporation Act; and (4) such other provisions with respect to the proposed consolidation as are deemed necessary or desirable.

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A. Any two or more domestic corporations may consolidate into a new corporation pursuant to a plan of consolidation approved in the manner provided in the Nonprofit Corporation Act. B. Each corporation shall adopt a plan of consolidation setting forth: (1) the names of the corporations proposing to consolidate, and the name of the new corporation into which they propose to consolidate, which is hereinafter designated as the new corporation; (2) the terms and conditions of the proposed consolidation; (3) with respect to the new corporation, all of the statements required to be set forth in articles of incorporation for corporations organized under the Nonprofit Corporation Act; and (4) such other provisions with respect to the proposed consolidation as are deemed necessary or desirable.

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