16-7-13 - Merger and consolidation.
16-7-13. Merger and consolidation.
(1) As long as the surviving corporation qualifies for tax exempt status under InternalRevenue Code Section 501(c)(3), any corporation organized under this chapter may merge withone or more domestic or foreign corporations organized or authorized to do business in this stateunder this title, or with one or more nonprofit domestic or foreign corporations organized orauthorized to do business in this state under this title.
(2) (a) Articles of merger or consolidation shall be adopted by the appropriateincorporator or the successor to an incorporator as described in Section 16-7-2. If there is no suchincorporator or successor, the articles shall be signed by the officer or official authorized toadminister the affairs and property of the corporation according to the practices and procedures ofthe church, denomination, or religious society.
(b) The articles of merger or consolidation shall be adopted by any merging orconsolidating corporation organized under Title 16, Chapter 6a, Utah Revised NonprofitCorporation Act, as provided in Sections 16-6a-1101 and 16-6a-1102.
(3) The effect of a merger or consolidation under this section is the same as provided inSection 16-6a-1104.
Amended by Chapter 300, 2000 General Session