Sec. 7. (a) A corporation organized under IC 8-1-13 may merge or consolidate with:
(1) one (1) or more cooperative corporations organized under IC 8-1-17; or
(2) one (1) or more corporations formed under this chapter;
if a plan of merger or consolidation that complies with section 8 of this chapter is approved under section 9 of this chapter.
(b) A cooperative corporation organized under IC 8-1-17 may merge or consolidate with:
(1) one (1) or more corporations organized under IC 8-1-13; or
(2) one (1) or more corporations formed under this chapter;
if a plan of merger or consolidation that complies with section 8 of this chapter is approved under section 9 of this chapter.
(c) A surviving corporation or successor corporation formed under this chapter:
(1) has all the rights, powers, privileges, immunities, and exemptions of:
(A) a local district corporation organized under IC 8-1-13; and
(B) a local cooperative corporation organized under IC 8-1-17; and
(2) is considered to be both:
(A) a local district corporation, within the meaning of that term as used in IC 8-1-13; and
(B) a local cooperative corporation, within the meaning of that term as used in IC 8-1-17.
As added by P.L.18-2010, SEC.1.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 1. Utilities Generally
8-1-17.5-2. "Communications Service"
8-1-17.5-3. "Patronage Capital"
8-1-17.5-4. "Retail Electric Service"
8-1-17.5-5. "Successor Corporation"
8-1-17.5-6. "Surviving Corporation"
8-1-17.5-7. Authority to Merge or Consolidate; Status of Surviving or Successor Corporation
8-1-17.5-8. Plan of Merger or Consolidation; Contents
8-1-17.5-9. Approval of Plan by Members; Notice of Meeting
8-1-17.5-15. Requirements for Membership
8-1-17.5-17. Powers of Surviving or Successor Corporation; Authorized Services
8-1-17.5-18. Enumerated Powers of Surviving or Successor Corporation
8-1-17.5-20. Authority to Issue Obligations; Sale of Obligations
8-1-17.5-21. Issuing of Obligations; Right to Make Covenants and Agreements
8-1-17.5-22. Right of Corporation to Purchase Its Own Obligations; Cancellation Upon Purchase