22-2622A. CONSOLIDATION AND MERGER AGREEMENTS — VOTING REQUIREMENTS. A consolidation or merger of associations organized hereunder shall be effective if the agreement therefor is approved by a two-thirds (2/3) vote of those present and voting at a regularly called meeting of members, providing notice of the substance of the proposed agreement is in the notice of meeting, and provided further, a quorum is present as provided by the bylaws of each organization voting upon such consolidation or merger. The members of the associations may vote by mail if permitted by the bylaws of said voters’ associations, but not by proxy, and the votes by mail shall also be considered in determining the quorum. The failure of any member to vote or a negative vote on consolidation or merger as provided herein shall not entitle those failing to vote or voting in the negative to payment for his shares or other interests or have the value of his shares or other interests appraised, but said members [member’s] shares or other interests shall be transferred to and invested in the surviving or new corporation without further act or deed.
History:
[I.C., sec. 22-2622A, as added by 1963, ch. 42, sec. 1, p. 191.]
Structure Idaho Code
Title 22 - AGRICULTURE AND HORTICULTURE
Chapter 26 - COOPERATIVE MARKETING ASSOCIATIONS
Section 22-2601 - DECLARATION OF POLICY.
Section 22-2602 - DEFINITIONS — SHORT TITLE.
Section 22-2603 - ASSOCIATIONS — WHO MAY ORGANIZE.
Section 22-2605 - PRELIMINARY INVESTIGATION.
Section 22-2608 - ARTICLES OF INCORPORATION — CONTENTS — SUBSCRIBING AND FILING.
Section 22-2609 - ARTICLES OF INCORPORATION — AMENDMENT.
Section 22-2610 - BYLAWS — ADOPTION — CONTENTS — AMENDMENT.
Section 22-2611 - GENERAL AND SPECIAL MEETINGS — HOW CALLED.
Section 22-2613 - ELECTION OF OFFICERS.
Section 22-2615 - REMOVAL OF OFFICER OR DIRECTOR.
Section 22-2617 - MARKETING CONTRACT.
Section 22-2620 - CONFLICTING LAWS NOT TO APPLY.
Section 22-2621 - INTEREST IN OTHER CORPORATIONS OR ASSOCIATIONS.
Section 22-2622 - CONTRACTS AND AGREEMENTS WITH OTHER ASSOCIATIONS.
Section 22-2622A - CONSOLIDATION AND MERGER AGREEMENTS — VOTING REQUIREMENTS.
Section 22-2623 - ASSOCIATION HERETOFORE ORGANIZED MAY ADOPT PROVISIONS OF CHAPTER.
Section 22-2625 - SEPARABILITY.