2015 Wyoming Code
TITLE 17 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
CHAPTER 19 - WYOMING NONPROFIT CORPORATION ACT
ARTICLE 11 - MERGER AND CONSOLIDATION
SECTION 17-19-1110. - Approval of plan of consolidation.
17-19-1110. Approval of plan of consolidation.
(a) Subject to the limitations set forth in W.S. 17-19-1111, one (1) or more nonprofit corporations may consolidate into a new business or nonprofit corporation, if the plan of consolidation is approved as provided in W.S. 17-19-1112.
(b) The plan of consolidation shall set forth:
(i) The name of each corporation planning to consolidate and the name of the new corporation into which each plans to consolidate which is hereinafter designated as the new corporation;
(ii) The terms and conditions of the planned consolidation;
(iii) The manner and basis, if any, of converting the memberships of each public benefit or religious corporation into memberships of the new corporation;
(iv) If the consolidation involves a mutual benefit corporation, the manner and basis, if any, of converting memberships of each consolidating corporation into memberships, obligations or securities of the new corporation or into cash or other property in whole or part; and
(v) With respect to the new corporation, all of the statements required to be set forth in articles of incorporation for corporations organized under this act.
(c) The plan of consolidation may set forth other provisions relating to the planned consolidation.
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