LegalFix
Sign In

§ 11.06 Merger with foreign corporation

11 V.S.A. § 11.06 (N/A)
Copy with citation
Copy as parenthetical citation

§ 11.06. Merger with foreign corporation

(a) Except as provided in section 11.02 of this title, one or more foreign business or nonprofit corporations may merge with one or more domestic nonprofit corporations if:

(1) the merger is permitted by the law of the state or country under whose law each foreign corporation is incorporated and each foreign corporation complies with that law in effecting the merger;

(2) the foreign corporation complies with section 11.04 of this title if it is the surviving corporation of the merger; and

(3) each domestic nonprofit corporation complies with the applicable provisions of sections 11.01 through 11.03 of this title and, if it is the surviving corporation of the merger, with section 11.04 of this title.

(b) Upon the merger taking effect, the surviving foreign business or foreign nonprofit corporation for which a certificate of authority has not been issued is deemed to have irrevocably appointed the Secretary of State as its agent for service of process in any proceeding brought against it. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)

Previous Section
§ 11.05 Effect of merger
Next Section
§ 11.07 Bequests, devises, and gifts