State Codes and Statutes

Statutes > New-york > Rel > Article-3 > 33

§ 33. Merger.   Any  one  or  more  cooperatives  (each  of  which  is  hereinafter designated a "merging cooperative") may merge  into  another  cooperative  (hereinafter  designated  the  "surviving cooperative"), by  complying with the following requirements:    (a) The proposition for the merger of the  merging  cooperatives  into  the surviving cooperative and proposed articles of merger to give effect  thereto  shall  be submitted to a meeting of the members of each merging  cooperative and of the surviving cooperative, the notice of which  shall  have attached thereto a copy of the proposed articles of merger;    (b)  If  the proposed merger and the proposed articles of merger, with  any amendments, are approved by the affirmative vote of  not  less  than  two-thirds  of  those members of each cooperative voting thereon at each  such meeting, articles of merger in the form approved shall be  executed  and  acknowledged on behalf of each such cooperative by its president or  vice-president and its seal shall be affixed thereto and attested by its  secretary. The articles of merger shall recite that  they  are  executed  pursuant  to  this chapter and shall 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 cooperative  agree to the merger; (4) the names and addresses of the directors of the  surviving cooperative; and (5) the terms and conditions  of  the  merger  and  the  mode of carrying the same into effect, including the manner in  which members of the merging cooperatives may or shall become members of  the  surviving  cooperative;  and  may  contain   any   provisions   not  inconsistent  with  this  chapter  deemed necessary or advisable for the  conduct of the business of the surviving cooperative.  The president  or  vice-president  of  each  cooperative  executing such articles of merger  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.

State Codes and Statutes

Statutes > New-york > Rel > Article-3 > 33

§ 33. Merger.   Any  one  or  more  cooperatives  (each  of  which  is  hereinafter designated a "merging cooperative") may merge  into  another  cooperative  (hereinafter  designated  the  "surviving cooperative"), by  complying with the following requirements:    (a) The proposition for the merger of the  merging  cooperatives  into  the surviving cooperative and proposed articles of merger to give effect  thereto  shall  be submitted to a meeting of the members of each merging  cooperative and of the surviving cooperative, the notice of which  shall  have attached thereto a copy of the proposed articles of merger;    (b)  If  the proposed merger and the proposed articles of merger, with  any amendments, are approved by the affirmative vote of  not  less  than  two-thirds  of  those members of each cooperative voting thereon at each  such meeting, articles of merger in the form approved shall be  executed  and  acknowledged on behalf of each such cooperative by its president or  vice-president and its seal shall be affixed thereto and attested by its  secretary. The articles of merger shall recite that  they  are  executed  pursuant  to  this chapter and shall 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 cooperative  agree to the merger; (4) the names and addresses of the directors of the  surviving cooperative; and (5) the terms and conditions  of  the  merger  and  the  mode of carrying the same into effect, including the manner in  which members of the merging cooperatives may or shall become members of  the  surviving  cooperative;  and  may  contain   any   provisions   not  inconsistent  with  this  chapter  deemed necessary or advisable for the  conduct of the business of the surviving cooperative.  The president  or  vice-president  of  each  cooperative  executing such articles of merger  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.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Rel > Article-3 > 33

§ 33. Merger.   Any  one  or  more  cooperatives  (each  of  which  is  hereinafter designated a "merging cooperative") may merge  into  another  cooperative  (hereinafter  designated  the  "surviving cooperative"), by  complying with the following requirements:    (a) The proposition for the merger of the  merging  cooperatives  into  the surviving cooperative and proposed articles of merger to give effect  thereto  shall  be submitted to a meeting of the members of each merging  cooperative and of the surviving cooperative, the notice of which  shall  have attached thereto a copy of the proposed articles of merger;    (b)  If  the proposed merger and the proposed articles of merger, with  any amendments, are approved by the affirmative vote of  not  less  than  two-thirds  of  those members of each cooperative voting thereon at each  such meeting, articles of merger in the form approved shall be  executed  and  acknowledged on behalf of each such cooperative by its president or  vice-president and its seal shall be affixed thereto and attested by its  secretary. The articles of merger shall recite that  they  are  executed  pursuant  to  this chapter and shall 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 cooperative  agree to the merger; (4) the names and addresses of the directors of the  surviving cooperative; and (5) the terms and conditions  of  the  merger  and  the  mode of carrying the same into effect, including the manner in  which members of the merging cooperatives may or shall become members of  the  surviving  cooperative;  and  may  contain   any   provisions   not  inconsistent  with  this  chapter  deemed necessary or advisable for the  conduct of the business of the surviving cooperative.  The president  or  vice-president  of  each  cooperative  executing such articles of merger  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.