South Carolina Code 33-31-1106. Merger with foreign corporation
Current as of: 2023 | Check for updates
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(a) Except as provided in § 33-31-1102, one or more foreign business or nonprofit corporations may merge with one or more domestic nonprofit corporations if:
(1) the merger is permitted by the law of the state or country under whose law each foreign corporation is incorporated and each foreign corporation complies with that law in effecting the merger;
Terms Used In South Carolina Code 33-31-1106
- 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.
- Service of process: The service of writs or summonses to the appropriate party.
(2) the foreign corporation complies with § 33-31-1104 if it is the surviving corporation of the merger; and
(3) each domestic nonprofit corporation complies with the applicable provisions of §§ 33-31-1101 through 33-31-1103 and, if it is the surviving corporation of the merger, with § 33-31-1104.
(b) Upon the merger taking effect, the surviving foreign business or nonprofit corporation is deemed to have irrevocably appointed the Secretary of State as its agent for service of process in any proceeding brought against it.