Nevada § 92A.130 Approval of plan of merger for domestic corporation: Conditions under which action by stockholders of surviving corporation is not required

Nevada Statutes

§ 92A.130 — Approval of plan of merger for domestic corporation: Conditions under which action by stockholders of surviving corporation is not required

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 92A Mergers,· AUTHORITY, PROCEDURE AND EFFECT

1. Action by the stockholders of a surviving domestic corporation on a plan of merger is not required if:

(a)The articles of incorporation of the surviving domestic corporation will not differ from its articles before the merger;

(b)Each stockholder of the surviving domestic corporation whose shares were outstanding immediately before the effective date of the merger will hold the same number of shares, with identical designations, preferences, limitations and relative rights immediately after the merger;

(c)The number of voting shares issued and issuable as a result of the merger will not exceed 20 percent of the total number of voting shares of the surviving domestic corporation outstanding immediately before the merger; and

(d)The number of participating shares issued and issuable a

Free access — add to your briefcase to read the full text and ask questions with AI

1. Action by the stockholders of a surviving domestic corporation on a plan of merger is not required if:
(a) The articles of incorporation of the surviving domestic corporation will not differ from its articles before the merger;
(b) Each stockholder of the surviving domestic corporation whose shares were outstanding immediately before the effective date of the merger will hold the same number of shares, with identical designations, preferences, limitations and relative rights immediately after the merger;
(c) The number of voting shares issued and issuable as a result of the merger will not exceed 20 percent of the total number of voting shares of the surviving domestic corporation outstanding immediately before the merger; and
(d) The number of participating shares issued and issuable as a result of the merger will not exceed 20 percent of the total number of participating shares outstanding immediately before the merger.
2. As used in this section:
(a) “Participating shares” means shares that entitle their holders to participate without limitation in distributions.
(b) “Voting shares” means shares that entitle their holders to vote unconditionally in elections of directors.

Nevada § 92A.130 (Approval of plan of merger for domestic corporation: Conditions under which action by stockholders of surviving corporation is not required) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.