Current through 2024
Section 23.100.1309 - Plan of merger(1) A domestic limited cooperative association may become a party to a merger under this section and RCW 23.100.1308 and 23.100.1310 through 23.100.1313 by approving a plan of merger. The plan must be in a record and contain: (a) As to each merging cooperative association, its name, jurisdiction of formation, and type of cooperative association;(b) If the surviving cooperative association is to be created in the merger, a statement to that effect and the association's name, jurisdiction of formation, and type of association;(c) The manner of converting the interests in each party to the merger into interests, obligations, money, other property, rights to acquire interests, or any combination of the foregoing;(d) If the surviving cooperative association exists before the merger, any proposed amendments to:(i) Its public organic record, if any; and(ii) Its private organic rules that are, or are proposed to be, in a record;(e) If the surviving cooperative association is to be created in the merger: (i) Its proposed public organic record, if any; and(ii) The full text of its private organic rules that are proposed to be in a record;(f) The other terms and conditions of the merger; and(g) Any other provision required by the law of a merging cooperative association's jurisdiction of formation or the organic rules of a merging cooperative association.(2) In addition to the requirements of subsection (1) of this section, a plan of merger may contain any other provision not prohibited by law.Added by 2019 c 37,§ 1309, eff. 7/28/2019.