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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 15. Alaska Cooperative Corporation Act
- Section 405. Approval and Contents of Plan of Merger or Consolidation.
previous: Section 400
. Merger and Consolidation.
next: Section 410
. Adoption of Plan of Merger or Consolidation.
AS 10.15.405. Approval and Contents of Plan of Merger or Consolidation.
The board of each cooperative shall, by resolution adopted by each board, approve a plan of merger or consolidation
- (1) the names of the cooperatives proposing to merge or consolidate, and the name of the cooperative into which they
propose to merge or the name of the new cooperative into which they proposed to consolidate;
- (2) the terms and conditions of the proposed merger or consolidation;
- (3) the effect of the proposed merger or consolidation on all members and shareholders of each of the cooperatives;
- (4) in the case of a plan for consolidation, the articles of the new cooperative, which must include all of the statements
required to be set forth in articles for cooperatives organized under this chapter;
- (5) other provisions with respect to the proposed merger or consolidation considered necessary or desirable.
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