Sec. 10.25.300. Articles of conversion: contents and use as articles of incorporation.
(a) The articles of conversion must recite that they are executed under this chapter and must state (1) the name of the corporation and the address of its principal office prior to its conversion into a cooperative; (2) the statute or statutes under which it was organized; (3) a statement that the corporation elects to […]
Sec. 10.25.240. Merger.
(a) Except as provided in (b) of this section, one or more cooperatives, each designated in this section as “merging cooperative,” may merge into another cooperative, designated in this section as “surviving cooperative,” by complying with the following requirements: (1) the proposition for the merger of the merging cooperatives into the surviving cooperative and proposed […]
Sec. 10.25.250. Contents of articles of merger.
(a) The articles of merger must recite that they are executed under this chapter and must state (1) the name of each merging cooperative and the address of its principal office; (2) the name of the surviving cooperative and the address of its principal office; (3) a statement that each merging cooperative and the surviving […]
Sec. 10.25.260. Consolidation.
Two or more cooperatives, designated in this section as “consolidating cooperative,” may consolidate into a new cooperative, designated in this section as the “new cooperative,” by complying with the following requirements: (1) the proposition for the consolidation into the new cooperative and proposed articles of consolidation shall be submitted to the members of each consolidating […]
Sec. 10.25.270. Contents of articles of consolidation.
(a) The articles of consolidation must recite that they are executed pursuant to this chapter and must state (1) the name of each consolidating cooperative and the address of its principal office; (2) the name of the new cooperative and the address of its principal office; (3) a statement that each consolidating cooperative agrees to […]
Sec. 10.25.280. Effect of consolidation or merger.
(a) In the case of a consolidation the existence of the consolidating cooperatives ceases and the articles of consolidation are the articles of incorporation of the new cooperative. In the case of a merger the separate existence of the merging cooperatives ceases and the articles of incorporation of the surviving cooperative are amended to the […]
Sec. 10.25.290. Conversion of existing corporation.
(a) A corporation organized under the laws of the state and supplying or having the corporate power to supply electric energy or to furnish telephone or related telecommunications service may be converted into a cooperative by complying with the requirements of this section and thereupon becomes subject to this chapter as if originally organized under […]