Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of March 28, 2024 | Updated by Findlaw Staff
(a) Any two (2) or more domestic associations created under § 2-2-101 et seq. may consolidate into a new association under a plan of consolidation approved in the manner provided in this subchapter.
(b) The board of directors of each association by a resolution adopted by each board shall approve a plan of consolidation setting forth:
(1) The names of the associations proposing to consolidate, and the name of the new association into which they propose to consolidate, which is designated as the “new association”;
(2) The terms and conditions of the proposed consolidation;
(3) The manner and basis of converting the shares, patronage, or other interests of each association into shares or other interests of the new association;
(4) With respect to the new association, all of the statements required to be set forth in articles of incorporation for associations organized under this subchapter;
(5) The time when the consolidation shall become effective; and
(6) Such other provisions with respect to the proposed consolidation as are deemed necessary or desirable.
Cite this article: FindLaw.com - Arkansas Code Title 2. Agriculture § 2-2-304. Consolidation requirements - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-2-agriculture/ar-code-sect-2-2-304/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)