There is a newer version
of
this Section
2020 Georgia Code
Title 46 - Public Utilities and Public Transportation
Chapter 3 - Electrical Service
Article 4 - Electric Membership Corporations and Foreign Electric Cooperatives
Part 10 - Mergers and Consolidations Involving Electric Membership Corporations and Foreign Electric Cooperatives
§ 46-3-380. Procedure for Merger Generally
Universal Citation: GA Code § 46-3-380 (2020)
- Any two or more electric membership corporations may merge into one of such electric membership corporations pursuant to a plan of merger approved in the manner provided in this part.
- The board of directors of each electric membership corporation participating in the merger shall, by resolution adopted by each such board, approve a plan of merger setting forth:
- The names of the electric membership corporations proposing to merge, and the name of the electric membership corporation into which they propose to merge, which shall be referred to in this part as the surviving electric membership corporation;
- The terms and conditions of the proposed merger;
- The manner and basis of converting the membership interests into membership interests, rights, obligations, or securities of the surviving electric membership corporation or of any other corporation or, in whole or in part, into cash or other property;
- A statement of any changes in the articles of incorporation of the surviving electric membership corporation to be effected by such merger; and
- Such other provisions with respect to the proposed merger as are deemed necessary or desirable.
(Code 1933, § 34C-1001, enacted by Ga. L. 1981, p. 1587, § 1.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 19 Am. Jur. 2d, Corporations, §§ 2614, 2615, 2621, 2623.
C.J.S.- 19 C.J.S., Corporations, §§ 792-806.
Disclaimer: These codes may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
