North Carolina General Statutes 55A-11-06. Merger with foreign corporation
(a) Except as provided in N.C. Gen. Stat. § 55A-11-02, one or more foreign corporations may merge with one or more domestic nonprofit corporations if:
(1) The merger is permitted by the law of the state or country under whose law each foreign corporation is incorporated and each foreign corporation complies with that law in effecting the merger;
Terms Used In North Carolina General Statutes 55A-11-06
- 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.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
(2) The foreign corporation complies with N.C. Gen. Stat. § 55A-11-04 if it is the surviving corporation of the merger; and
(3) Each domestic nonprofit corporation complies with the applicable provisions of N.C. Gen. Stat. § 55A-11-01 through N.C. Gen. Stat. § 55A-11-03 and, if it is the surviving corporation of the merger, with N.C. Gen. Stat. § 55A-11-04.
(b) Repealed by Session Laws 2005, c. 268, s. 42.
(c) This section does not limit the power of a foreign corporation to acquire all or part of the memberships of one or more classes of a domestic nonprofit corporation through a 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).)