17-4617.Consolidation.
(a) Any two or more cooperatives may consolidate into a new cooperative by
complying with the following requirements:
(1) The proposition for the consolidation of the consolidating
cooperatives into the new cooperative and proposed articles of
consolidation shall be submitted to a meeting of the members of each
consolidating cooperative, the notice of which shall have attached a copy
of the proposed articles of consolidation; and
(2) if the proposed consolidation and the proposed articles of
consolidation, with any amendments, are approved by the affirmative vote
of not less than 2/3 of the members of each consolidating cooperative
voting at each such meeting, articles of consolidation in the form
approved shall be executed on behalf of each
consolidating cooperative by its president or vice-president and attested by its
secretary.
(b) Voting on the proposed articles of consolidation shall be in
accordance with subsection (e) of K.S.A. 17-4610 and amendments thereto.
(c) The articles of consolidation shall recite that they are executed
pursuant to this act and shall 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 the
consolidation;
(4) the names and addresses of the trustees of the new cooperative;
and
(5) the terms and conditions of the consolidation and the mode of
carrying the same into effect, including the manner in which the members
of the consolidating cooperatives may or shall become members of the
new cooperative.
Such articles may contain any provisions not inconsistent with
this act deemed necessary or advisable for the conduct of the business
of the new cooperative.
(d) The president or vice-president of each consolidating cooperative
executing the articles of consolidation shall make and annex thereto an
affidavit stating that the provisions of this section in respect of such
articles were duly complied with by such cooperative.
History: L. 1941, ch. 185, § 17;
L. 1989, ch. 79, § 1;
L. 2000, ch. 39, § 12; July 1.
17-4617.Consolidation.
(a) Any two or more cooperatives may consolidate into a new cooperative by
complying with the following requirements:
(1) The proposition for the consolidation of the consolidating
cooperatives into the new cooperative and proposed articles of
consolidation shall be submitted to a meeting of the members of each
consolidating cooperative, the notice of which shall have attached a copy
of the proposed articles of consolidation; and
(2) if the proposed consolidation and the proposed articles of
consolidation, with any amendments, are approved by the affirmative vote
of not less than 2/3 of the members of each consolidating cooperative
voting at each such meeting, articles of consolidation in the form
approved shall be executed on behalf of each
consolidating cooperative by its president or vice-president and attested by its
secretary.
(b) Voting on the proposed articles of consolidation shall be in
accordance with subsection (e) of K.S.A. 17-4610 and amendments thereto.
(c) The articles of consolidation shall recite that they are executed
pursuant to this act and shall 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 the
consolidation;
(4) the names and addresses of the trustees of the new cooperative;
and
(5) the terms and conditions of the consolidation and the mode of
carrying the same into effect, including the manner in which the members
of the consolidating cooperatives may or shall become members of the
new cooperative.
Such articles may contain any provisions not inconsistent with
this act deemed necessary or advisable for the conduct of the business
of the new cooperative.
(d) The president or vice-president of each consolidating cooperative
executing the articles of consolidation shall make and annex thereto an
affidavit stating that the provisions of this section in respect of such
articles were duly complied with by such cooperative.
History: L. 1941, ch. 185, § 17;
L. 1989, ch. 79, § 1;
L. 2000, ch. 39, § 12; July 1.
17-4617.Consolidation.
(a) Any two or more cooperatives may consolidate into a new cooperative by
complying with the following requirements:
(1) The proposition for the consolidation of the consolidating
cooperatives into the new cooperative and proposed articles of
consolidation shall be submitted to a meeting of the members of each
consolidating cooperative, the notice of which shall have attached a copy
of the proposed articles of consolidation; and
(2) if the proposed consolidation and the proposed articles of
consolidation, with any amendments, are approved by the affirmative vote
of not less than 2/3 of the members of each consolidating cooperative
voting at each such meeting, articles of consolidation in the form
approved shall be executed on behalf of each
consolidating cooperative by its president or vice-president and attested by its
secretary.
(b) Voting on the proposed articles of consolidation shall be in
accordance with subsection (e) of K.S.A. 17-4610 and amendments thereto.
(c) The articles of consolidation shall recite that they are executed
pursuant to this act and shall 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 the
consolidation;
(4) the names and addresses of the trustees of the new cooperative;
and
(5) the terms and conditions of the consolidation and the mode of
carrying the same into effect, including the manner in which the members
of the consolidating cooperatives may or shall become members of the
new cooperative.
Such articles may contain any provisions not inconsistent with
this act deemed necessary or advisable for the conduct of the business
of the new cooperative.
(d) The president or vice-president of each consolidating cooperative
executing the articles of consolidation shall make and annex thereto an
affidavit stating that the provisions of this section in respect of such
articles were duly complied with by such cooperative.
History: L. 1941, ch. 185, § 17;
L. 1989, ch. 79, § 1;
L. 2000, ch. 39, § 12; July 1.