N.D. Cent. Code § 10-19.1-96
This is the official text of N.D. Cent. Code § 10-19.1-96, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-19.1-96. Merger - Exchange - Transfer
Official statutory text
10-19.1-96. Merger - Exchange - Transfer
1. With or without a business purpose, a corporation may merge with another domestic
or foreign organization under a plan of merger approved in the manner provided in this
section and in sections 10-19.1-97 through 10-19.1-103 and in the manner provided in
the governing statute of the other organization.
2. With respect to an exchange:
a. A corporation may acquire all the ownership interests of one or more classes or
series of another domestic or foreign organization under a plan of exchange
approved in the manner provided in this section and in sections 10-19.1-97
through 10-19.1-103 in the case of a domestic corporation and in the manner
provided in the governing statute in the case of any other organization.
b. Another domestic or foreign organization may acquire all the shares of one or
more classes or series of a corporation under a plan of exchange approved in the
manner provided in this section and in sections 10-19.1-97 through 10-19.1-103
in the case of a domestic corporation and in the manner provided in the
governing statute in the case of any other organization.
3. A corporation may sell, lease, transfer, or otherwise dispose of all or substantially all of
the corporation's property and assets in the manner provided in section 10-19.1-104.
4. A corporation may participate in a merger or exchange only as permitted by this
section and by sections 10-19.1-97 through 10-19.1-103. The dissenter's rights for
shareholders of a corporation are governed by this chapter.
1. With or without a business purpose, a corporation may merge with another domestic
or foreign organization under a plan of merger approved in the manner provided in this
section and in sections 10-19.1-97 through 10-19.1-103 and in the manner provided in
the governing statute of the other organization.
2. With respect to an exchange:
a. A corporation may acquire all the ownership interests of one or more classes or
series of another domestic or foreign organization under a plan of exchange
approved in the manner provided in this section and in sections 10-19.1-97
through 10-19.1-103 in the case of a domestic corporation and in the manner
provided in the governing statute in the case of any other organization.
b. Another domestic or foreign organization may acquire all the shares of one or
more classes or series of a corporation under a plan of exchange approved in the
manner provided in this section and in sections 10-19.1-97 through 10-19.1-103
in the case of a domestic corporation and in the manner provided in the
governing statute in the case of any other organization.
3. A corporation may sell, lease, transfer, or otherwise dispose of all or substantially all of
the corporation's property and assets in the manner provided in section 10-19.1-104.
4. A corporation may participate in a merger or exchange only as permitted by this
section and by sections 10-19.1-97 through 10-19.1-103. The dissenter's rights for
shareholders of a corporation are governed by this chapter.
Status: in_force · Read it on the official government site
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