New York § 7103 Content of merger or consolidation agreement, and of charter of surviving or consolidated company

New York Statutes

§ 7103 — Content of merger or consolidation agreement, and of charter of surviving or consolidated company

New York § 7103

Law ISCInsurance

Art. 71Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers

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Bluebook

N.Y. Insurance § 7103 (2026).

Text

§ 7103. Content of merger or consolidation agreement, and of charter\nof surviving or consolidated company.

(a)Any agreement for merger or\nconsolidation shall contain the proposed charter of the surviving or\nconsolidated company and such other particulars as may be necessary to\nexplain and make manifest the objects and purposes of the surviving or\nconsolidated company and the manner in which it is to be conducted. Such\ncompany may be given the name of one or more of the constituent\ncompanies, which name shall, however, comply with subsection (g) of\nsection one thousand one hundred two of this chapter. The approval of\nsuch agreement by the superintendent shall constitute an approval of\nsuch proposed charter.\n (b) The proposed charter shall conform to all requirements of\nparag

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§ 7103. Content of merger or consolidation agreement, and of charter\nof surviving or consolidated company. (a) Any agreement for merger or\nconsolidation shall contain the proposed charter of the surviving or\nconsolidated company and such other particulars as may be necessary to\nexplain and make manifest the objects and purposes of the surviving or\nconsolidated company and the manner in which it is to be conducted. Such\ncompany may be given the name of one or more of the constituent\ncompanies, which name shall, however, comply with subsection (g) of\nsection one thousand one hundred two of this chapter. The approval of\nsuch agreement by the superintendent shall constitute an approval of\nsuch proposed charter.\n (b) The proposed charter shall conform to all requirements of\nparagraph five of subsection (a) of section one thousand two hundred one\nof this chapter.\n (c) If the surviving or consolidated company shall be a stock company,\nits charter shall provide that its capital shall be no larger than the\nsum of the capital of the constituent companies.\n