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This entry was published on 2014-09-22
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SECTION 6
Merger of subsidiary corporations
Transportation Corporations (TCP) CHAPTER 63, ARTICLE 1
§ 6. Merger of subsidiary corporations. (a) Any domestic
transportation corporation or any foreign corporation authorized to do
in this state any business which may be done in this state by a domestic
transportation corporation, owning at least ninety-five percent of the
outstanding shares of each class of any domestic corporation or
corporations authorized to engage in business similar or incidental to
the business which the possessor corporation is authorized to engage in,
and any domestic transportation corporation owning at least ninety-five
percent of the outstanding shares of each class of any foreign
corporation authorized to do in this state any business which may be
done in this state by a domestic transportation corporation and also
authorized to engage in business similar or incidental to the business
which the possessor corporation is authorized to engage in, may merge
such corporation or corporations into itself without the authorization
of the shareholders of any such corporation, in accordance with the
procedure and with the effect set forth in article nine of the business
corporation law for the merger of subsidiary corporations.

(b) Any omnibus corporation may be merged under this section with any
railroad corporation, provided such railroad corporation shall have
substituted stages, buses or motor vehicles for cars or trains upon
tracks on any portion of its route in accordance with section one
hundred twenty-one of the transportation law.