Missouri Laws 351.415 – Consolidation procedure
Any two or more domestic corporations may consolidate into a new domestic corporation in the following manner: The board of directors of each corporation shall approve a plan of consolidation and direct the submission of the plan to a vote at a meeting of shareholders. The plan of consolidation shall set forth:
(1) The names of the corporations proposing to consolidate, which are herein designated as the “constituent corporations” and the name of the new corporation into which they propose to consolidate, which is herein designated as “the new corporation”;
Terms Used In Missouri Laws 351.415
- Articles of incorporation: includes the original articles of incorporation and all amendments thereto, and includes articles of merger or consolidation. See Missouri Laws 351.015
- 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.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Foreign corporation: means a corporation for profit organized under laws other than the laws of this state. See Missouri Laws 351.015
- Property: includes real and personal property. See Missouri Laws 1.020
(2) The terms and conditions of the proposed consolidation and the mode of carrying it into effect;
(3) The manner and basis of converting the shares of each consolidating corporation into cash, property, shares, or other securities, or obligations of the new corporation, or (if any shares of any consolidating corporation are not to be converted solely into cash, property, shares or other securities or obligations of the new corporation) into cash, property, shares or other securities or obligations of any other domestic or foreign corporation, which cash, property, shares or other securities or obligations of any other domestic or foreign corporation may be in addition to or completely in lieu of cash, property, shares or other securities or obligations of the new corporation;
(4) With respect to the new corporation, all of the statements required to be set forth in articles of incorporation for corporations organized under this chapter;
(5) Such other provisions with respect to the proposed consolidation as are deemed necessary or desirable.