Indiana Code 8-1-17.5-7. Authority to merge or consolidate; status of surviving or successor corporation

Sec. 7. (a) A corporation organized under IC 8-1-13 may merge or consolidate with:

(1) one (1) or more cooperative corporations organized under IC 8-1-17; or

Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
successor corporation: means a corporation that is formed from a consolidation of two (2) or more corporations under this chapter. See Indiana Code 8-1-17.5-5
surviving corporation: means the corporation that remains after a merger of two (2) or more corporations under this chapter. See Indiana Code 8-1-17.5-6

(2) one (1) or more corporations formed under this chapter;

if a plan of merger or consolidation that complies with section 8 of this chapter is approved under section 9 of this chapter.

(b) A cooperative corporation organized under IC 8-1-17 may merge or consolidate with:

(1) one (1) or more corporations organized under IC 8-1-13; or

(2) one (1) or more corporations formed under this chapter;

if a plan of merger or consolidation that complies with section 8 of this chapter is approved under section 9 of this chapter.

(1) has all the rights, powers, privileges, immunities, and exemptions of:

(A) a local district corporation organized under IC 8-1-13; and

(B) a local cooperative corporation organized under IC 8-1-17; and

(2) is considered to be both:

(A) a local district corporation, within the meaning of that term as used in IC 8-1-13; and

(B) a local cooperative corporation, within the meaning of that term as used in IC 8-1-17.

As added by P.L.18-2010, SEC.1.