New Jersey Statutes 15A:10-1. Procedure for merger
Terms Used In New Jersey Statutes 15A:10-1
- 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.
b. The board of each corporation shall approve a plan of merger setting forth:
(1) the names of the corporations proposing to merge, and the name of the corporation into which they propose to merge, which is hereinafter designated as the surviving corporation;
(2) the terms and conditions of the proposed merger, including a statement of any amendments in the certificate of incorporation of the surviving corporation to be affected by the merger;
(3) the manner and basis of converting the membership of each corporation, in whole or in part, into memberships or obligations of the surviving corporation, or into cash or other property;
(4) Any other provisions with respect to the proposed merger as are deemed necessary or desirable.
L.1983, c. 127, s. 15A:10-1, eff. Oct. 1, 1983.