If a disappearing corporation in a merger is a corporation governed by this division
and the surviving corporation is a social purpose corporation, both of the following shall apply:
(a) The merger shall be approved by the affirmative vote of at least two-thirds of
each class, or a greater vote if required in the articles, of the outstanding shares
(Section 152) of the disappearing corporation, notwithstanding any provision of Chapter 12 (commencing
with Section 1200).
(b) The shareholders of the disappearing corporation shall have all of the rights
under Chapter 13 (commencing with Section 1300) of the shareholders of a corporation involved in a reorganization requiring the
approval of its outstanding shares (Section 152), and the disappearing corporation shall have all of the obligations under Chapter
13 (commencing with Section 1300) of a corporation involved in the reorganization.
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