§ 4-26-1006 - Merger. - Arkansas Statutes

4-26-1006. Merger.

(a) A corporation may merge with one (1) or more other constituent organizations under this section and 4-26-1007 through 4-26-1010 and a plan of merger if:

(1) The governing statute of each of the other organizations authorizes the merger;

(2) The merger is not prohibited by the law of a jurisdiction that enacted the governing statute; and

(3) Each of the other organizations complies with its governing statute in effecting the merger.

(b) A plan of merger shall be in a record and shall include:

(1) The name and form of each constituent organization;

(2) The name and form of the surviving organization;

(3) The terms and conditions of the merger, including the manner and basis for converting the interests in each constituent organization into any combination of money, interests in the surviving organization, and other consideration; and

(4) Any amendments to be made by the merger to the surviving organization's organizational documents.