§ 55A-11-06. Merger with foreign corporation. - North Carolina Statutes

§ 55A‑11‑06. Merger with foreign corporation.

(a)        Except as providedin G.S. 55A‑11‑02, one or more foreign corporations may merge withone or more domestic nonprofit corporations if:

(1)        The merger ispermitted by the law of the state or country under whose law each foreigncorporation is incorporated and each foreign corporation complies with that lawin effecting the merger;

(2)        The foreigncorporation complies with G.S. 55A‑11‑04 if it is the survivingcorporation of the merger; and

(3)        Each domestic nonprofitcorporation complies with the applicable provisions of G.S. 55A‑11‑01through G.S. 55A‑11‑03 and, if it is the surviving corporation ofthe merger, with G.S. 55A‑11‑04.

(b)        Repealed by SessionLaws 2005, c. 268, s. 42.

(c)        This section doesnot limit the power of a foreign corporation to acquire all or part of thememberships of one or more classes of a domestic nonprofit corporation througha voluntary exchange or otherwise. (1973, c. 314, s. 4; 1985 (Reg. Sess., 1986), c. 801,s. 39; 1993, c. 398, s. 1; 1995, c. 400, s. 7; 2001‑387, ss. 36, 37; 2005‑268,s. 42; 2006‑226, s. 16(c); 2006‑264, s. 44(f).)