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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) One or more constituent limited cooperative associations may merge with one or more other constituent associations pursuant to this subchapter and a plan of merger. If any of the constituent associations is a foreign cooperative association, the law of the jurisdiction in which it was formed shall authorize the merger.
(b) A plan of merger shall be in a record and shall include:
(1) The name and jurisdiction of organization of each constituent limited cooperative association;
(2) The name and jurisdiction of organization of the surviving limited cooperative association;
(3) The terms and conditions of the merger, including the manner and basis for converting the interests in each constituent association into any combination of money, interests in any entity, and other consideration;
(4) If the surviving association is to be created by the merger, the surviving association's organic rules; and
(5) If the surviving association is not to be created by the merger, any amendments to be made by the merger to the surviving association's organic rules.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 29-1015.02. Merger. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-29-1015-02/
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 or via Westlaw before relying on it for your legal needs.
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