South Dakota Codified Laws 47-25-3. Consolidation of corporations–Plan of consolidation–Contents of plan
Any two or more domestic corporations may consolidate into a new corporation pursuant to a plan of consolidation approved in the manner provided in this chapter.
Each corporation shall adopt a plan of consolidation setting forth:
Terms Used In South Dakota Codified Laws 47-25-3
- 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.
(1) The names of the corporations proposing to consolidate, and the name of the new corporation into which they propose to consolidate, which is hereinafter designated as the new corporation;
(2) The terms and conditions of the proposed consolidation;
(3) With respect to the new corporation, all of the statements required to be set forth in articles of incorporation for corporations organized under chapter 47-22;
(4) Such other provisions with respect to the proposed consolidation as are deemed necessary or desirable.
Source: SL 1965, ch 24, § 41.