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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 25. Electric and Telephone Cooperative Act
- Section 240. Merger.
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. Member's Right to Examine Books and Records.
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. Merger of Cooperative and Corporation Organized Under AS 10.05
. [Repealed, Sec. 24 Ch 134 SLA 1988]
AS 10.25.240. Merger.
- (a) Except as provided in (b) of this section, one or more cooperatives, each designated in this section as "merging
cooperative," may merge into another cooperative, designated in this section as "surviving cooperative," by complying
with the following requirements:
- (1) the proposition for the merger of the merging cooperatives into the surviving cooperative and proposed articles of
merger shall be submitted to the members of each merging cooperative and of the surviving cooperative; the notice shall
have attached to it a copy of the proposed articles of merger;
- (2) if the proposed merger and the proposed articles of merger, with any amendments, are approved by the affirmative vote
of not less than two-thirds of those members of each cooperative voting on them, articles of merger in the form
approved shall be executed and acknowledged on behalf of each cooperative by its presiding officer and its seal shall
be affixed by the officer designated by the board.
- (b) A merger of electric or telephone cooperatives may not take effect unless the surviving cooperative expressly agrees
to comply with the terms of each collective bargaining agreement entered into between a merging cooperative and a labor
organization representing employees of the cooperative that is in effect on the date of merger.
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