North Carolina General Statutes 59-1070. Merger
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A domestic limited partnership may merge with one or more other domestic limited partnerships or other business entities if:
(1) The merger is permitted by the laws of the state or country governing the organization and internal affairs of each other merging business entity; and
Terms Used In North Carolina General Statutes 59-1070
- Business: means any lawful trade, investment, or other purpose or activity, whether or not the trade, investment, purpose, or activity is carried on for profit. See North Carolina General Statutes 59-102
- Business entity: means a domestic corporation (including a professional corporation as defined in N. See North Carolina General Statutes 59-102
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See North Carolina General Statutes 59-102
(2) Each merging domestic limited partnership and each other merging business entity comply with the requirements of this Part, and, to the extent applicable, the laws referred to in subdivision (1) of this section. (1999-369, s. 4.8; 2001-387, ss. 143, 144.)