§ 55-11-09. Merger with nonprofit corporation. - North Carolina Statutes

§ 55‑11‑09. Merger with nonprofit corporation.

(a)        One or moredomestic or foreign nonprofit corporations may merge with one or more domesticcorporations if:

(1)        Each domesticnonprofit corporation complies with the applicable provisions of G.S. 55A‑11‑01through G.S. 55A‑11‑03;

(2)        In a mergerinvolving one or more foreign nonprofit corporations, the merger is permittedby law of the state or country under whose law each foreign nonprofitcorporation is incorporated and, to the extent applicable, each domesticcorporation and each domestic or foreign nonprofit corporation complies withthat law in effecting the merger;

(3)        The domestic orforeign nonprofit corporation complies with G.S. 55‑11‑05 if it isthe surviving corporation; and

(4)        Each domestic corporationcomplies with the applicable provisions of G.S. 55‑11‑01, 55‑11‑03,and 55‑11‑04 and, if it is the surviving corporation, with G.S. 55‑11‑05.

(b)        Repealed by SessionLaws 2005, c. 268, s. 25.

(c)        This section doesnot limit the power of a domestic or foreign nonprofit corporation to acquireall or part of the shares of one or more classes or series of a domesticcorporation through a voluntary exchange or otherwise. (1995, c. 400, s. 13; 2001‑387,ss. 20, 21; 2005‑268, s. 25.)