§ 4-28-303 - Domestic corporations -- Consolidation pursuant to plan. - Arkansas Statutes

4-28-303. Domestic corporations -- Consolidation pursuant to plan.

(a) Any two (2) or more domestic corporations may consolidate into a new corporation pursuant to a plan of consolidation approved in the manner provided in this subchapter.

(b) Each corporation shall adopt a plan of consolidation setting forth:

(1) The names of the corporations proposing to consolidate;

(2) The name of the new corporation into which they propose to consolidate, which is hereinafter designated as the new corporation;

(3) The terms and conditions of the proposed consolidation;

(4) With respect to the new corporation, all of the statements required to be set forth in articles of incorporation for corporations organized under the Arkansas Nonprofit Corporation Act, 4-28-201 et seq.; and

(5) Any other provisions with respect to the proposed consolidation as are deemed necessary or desirable.