Sec. 8. A plan of merger or consolidation must include the following:

(1) The name of each merging or consolidating corporation.

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Terms Used In Indiana Code 8-1-17.5-8

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • patronage capital: means revenues and receipts returned to members under section 24(d) of this chapter. See Indiana Code 8-1-17.5-3
  • successor corporation: means a corporation that is formed from a consolidation of two (2) or more corporations under this chapter. See Indiana Code 8-1-17.5-5
  • surviving corporation: means the corporation that remains after a merger of two (2) or more corporations under this chapter. See Indiana Code 8-1-17.5-6
(2) The name of the surviving corporation or successor corporation.

(3) The terms and conditions of the merger or consolidation and the mode of carrying the merger or consolidation into effect, including the manner in which members of the merging or consolidating corporations may or shall become members of the surviving corporation or successor corporation.

(4) A plan for the retirement of patronage capital accrued by members of the merging or consolidating corporations.

(5) The proposed articles of merger or consolidation or a comprehensive summary of the proposed articles of merger or consolidation.

(6) The effective date of the merger or consolidation.

(7) The number of, and length of terms for, directors of the surviving corporation or successor corporation and, if there will be voting districts in the service areas of the surviving corporation or successor corporation, a description of the districts and the number of directors to represent each district.

(8) The names and addresses of the directors of the surviving corporation or successor corporation.

(9) Any other provision concerning the planned merger or consolidation considered necessary or appropriate by the boards of directors of the merging or consolidating corporations.

As added by P.L.18-2010, SEC.1.

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