Texas Business Organizations Code - Section 10.003. Contents Of Plan Of Merger: More Than One Successor
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§ 10.003. CONTENTS OF PLAN OF MERGER: MORE THAN ONE
SUCCESSOR. If more than one organization is to survive or to be
created by the plan of merger, the plan of merger must include:
(1) the manner and basis of allocating and vesting the
property of each organization that is a party to the merger among
one or more of the surviving or new organizations;
(2) the name of each surviving or new organization
that is primarily obligated for the payment of the fair value of an
ownership or membership interest of an owner or member of a domestic
entity subject to dissenters' rights that is a party to the merger
and who complies with the requirements for dissent and appraisal
under this code applicable to the domestic entity; and
(3) the manner and basis of allocating each liability
and obligation of each organization that is a party to the merger,
or adequate provisions for the payment and discharge of each
liability and obligation, among one or more of the surviving or new
organizations.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 9.203 9.204 9.251 9.252 9.301 10.001 10.002 10.003 10.004 10.005 10.006 10.007 10.008 10.009 10.010
Last modified: August 11, 2007
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