Merger with foreign entity.

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(1) One or more domestic cooperatives may merge with one or more foreign entities if:

  1. The merger is permitted by section 7-90-203 (2);

  2. The foreign entity complies with section 7-90-203.7 if it is the surviving entity of themerger; and

  3. Each domestic cooperative complies with the applicable provisions of sections 7-56602 and 7-56-603 and, if it is the surviving cooperative of the merger, with section 7-56-604.5.

(2) Upon the merger taking effect, the surviving foreign entity of a merger shall comply with section 7-90-204.5.

Source: L. 2007: Entire section added, p. 222, § 7, effective May 29.


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