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Rhode Island General Laws Title 7. Corporations, Associations, and Partnerships § 7-6-44. Procedure for consolidation

Current as of January 01, 2022 | Updated by FindLaw Staff

(a) Notwithstanding anything to the contrary contained in any general or public law, rule, or regulation, any two (2) or more entities, whether defined in § 7-6-2, § 7-1.2-106, § 7-13-1, or § 7-16-2, may consolidate into one of the entities pursuant to a plan of consolidation approved in the manner provided in this chapter. This section does not apply to insurance holding company systems as defined in § 27-35-1.

(b) Each entity shall adopt a plan of consolidation setting forth:

(1) The names of the entities proposing to consolidate, and the name of the new entity into which they propose to consolidate, which is subsequently designated as the new entity;

(2) The terms and conditions of the proposed consolidation;

(3) Regarding the new entity, all of the statements required to be set forth in articles of incorporation for entities organized under this chapter; and

(4) Any other provisions regarding the proposed consolidation that are deemed necessary or desirable.

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Cite this article: FindLaw.com - Rhode Island General Laws Title 7. Corporations, Associations, and Partnerships § 7-6-44. Procedure for consolidation - last updated January 01, 2022 | https://codes.findlaw.com/ri/title-7-corporations-associations-and-partnerships/ri-gen-laws-sect-7-6-44/

Read this complete Rhode Island General Laws Title 7. Corporations, Associations, and Partnerships § 7-6-44. Procedure for consolidation on Westlaw. Westlaw subscription required.

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