Merger.
A statutory trust may merge with one or more other constituent organizations pursuant to this section, §§ 29-1207.03 through 29-1207.05, and a plan of merger if: The merger is not prohibited by the governing law of any constituent organization; and Each of the other organizations complies with its governing law in effecting the merger. A plan of merger shall be in a record and shall include: The name and form of each constituent organization; The name and form of the surviving organization and, if the surviving organization is to be created by the merger, a statement to that effect; The terms and conditions of the merger, including the manner and basis for converting or exchanging the interests in each constituent organization into any combination of money, interests in the surviving organization, and other consideration; If the surviving organization is to be created by the merger, the surviving organization’s organizational documents; and If the surviving organization is not to be created by the merger, any amendments to be made by the merger to the surviving organization’s organizational documents.
Annotations
July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720 Uniform Law: This section is based on § 702 of the Uniform Statutory Trust Entity Act.
Sourced from the DC Council Open Law Library (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.