70-728 Consolidation of corporations; how effected. - Nebraska Statutes

70-728. Consolidation of corporations; how effected.Any two or more corporations may enter into an agreement for the consolidation of such corporations. The agreement shall set forth the terms and conditions of the consolidation, the name of the proposed consolidated corporation, the number of its directors, not less than five, the time of the annual meeting and election, and the names of at least five persons to be directors until the first annual meeting. If such agreement is approved by the votes of a majority of the members of each corporation present in person at any regular meeting, or at any special meeting of its members called for that purpose, the directors named in the agreement shall sign and acknowledge, as incorporators, articles of consolidation conforming substantially to original articles of incorporation of a corporation organized under sections 70-701 to 70-738. SourceLaws 1937, c. 50, § 27, p. 211; C.S.Supp.,1941, § 70-827; R.S.1943, § 70-728.