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This entry was published on 2014-09-22
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SECTION 901
Power of merger or consolidation
Not-for-Profit Corporation (NPC) CHAPTER 35, ARTICLE 9
§ 901. Power of merger or consolidation.

(a) Two or more domestic corporations may, as provided in this
chapter:

(1) Merge into a single corporation which shall be one of the
constituent corporations; or

(2) Consolidate into a single corporation which shall be a new
corporation to be formed pursuant to the consolidation.

(b) Whenever used in this article:

(1) "Merger" means a procedure of the character described in
subparagraph (a) (1).

(2) "Consolidation" means a procedure of the character described in
subparagraph (a) (2).

(3) "Constituent corporation" means an existing corporation that is
participating in the merger or consolidation with one or more other
corporations.

(4) "Surviving corporation" means the constituent corporation into
which one or more other constituent corporations are merged.

(5) "Consolidated corporation" means the new corporation in which two
or more constituent corporations are consolidated.