TITLE 30

CORPORATIONS

CHAPTER 30

IDAHO NONPROFIT CORPORATION ACT

PART 8

MERGER AND MEMBERSHIP EXCHANGES

30-30-802.  Approval of plan of merger. (1) One (1) or more nonprofit corporations may merge into a business or nonprofit corporation, if the plan of merger is approved as provided in section 30-30-803, Idaho Code.

(2)  The plan of merger must set forth:

(a)  The name of each corporation planning to merge and the name of the surviving corporation into which each plans to merge;

(b)  The terms and conditions of the planned merger;

(c)  The manner and basis, if any, of converting memberships of each merging corporation into memberships, obligations or securities of the surviving or any other corporation or into cash or other property in whole or part.

(3)  The plan of merger may set forth:

(a)  Any amendments to the articles of incorporation or bylaws of the surviving corporation to be effected by the planned merger; and

(b)  Other provisions relating to the planned merger.

History:

[30-30-802, added 2015, ch. 243, sec. 81, p. 997.]