The board of each cooperative, upon approving the plan of merger or plan of consolidation, shall by resolution direct that the plan be submitted to a vote at a meeting of members and shareholders, or if there are no shareholders at an annual or a special meeting of members. Written notice shall be given to each member and each shareholder in the manner provided in this chapter for meetings of members, and adoption of the plan shall be by affirmative vote of a majority of the member votes cast and affirmative vote of a majority of shareholder votes entitled to be cast.
Structure Alaska Statutes
Title 10. Corporations and Associations
Chapter 15. Alaska Cooperative Corporation Act
Article 4. Merger, Consolidation, and Conversion of Corporation Into Cooperative.
Sec. 10.15.400. Merger and consolidation.
Sec. 10.15.405. Approval and contents of plan of merger or consolidation.
Sec. 10.15.410. Adoption of plan of merger or consolidation.
Sec. 10.15.415. Abandonment of plan of merger or consolidation.
Sec. 10.15.420. Execution of articles of merger or consolidation.
Sec. 10.15.425. Contents of articles.
Sec. 10.15.430. Filing of articles.
Sec. 10.15.435. Effect of merger or consolidation.
Sec. 10.15.440. Merger or consolidation of cooperatives and domestic and foreign corporations.