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The initial board of directors tendered resignations which were accepted by the President and the following persons were nominated as directors and there being no other nominations were unanimously elected: There being no further business presented, the meeting was duly adjourned. NO, it may be oral 5M should it be in writing to be valid and binding as a subscription? We don't believe our clients should have to tailor their legal needs according to our practice units.
Pages: 5000
Publisher: Tolley Publishing (February 1, 2001)
ISBN: 0754508420
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Corporations and Other Business Associations: Statutes, Rules and Forms, 2003
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Amendment or abandonment of plan of merger. Subchapter C is referred to in sections 312, 2538 of this title. (a) General rule.--Except as provided in section 318 (relating to excluded entities and transactions) or this section, by complying with this chapter: (1) One or more domestic entities may merge with one or more domestic entities or foreign associations into a surviving association. (2) Two or more foreign associations may merge into a surviving association that is a domestic entity. (3) A domestic banking institution may be a merging association or surviving association in a merger with one or more domestic or foreign associations if the surviving association or at least one of the merging associations is a domestic entity. (b) Foreign law authorization required.--By complying with the applicable provisions of this subchapter, a foreign association may be a party to a merger under this subchapter or may be the surviving association in such a merger if the merger is authorized by the laws of the jurisdiction of formation of the foreign association. (c) Banking institutions.--Subsection (a)(3) controls over any inconsistent provision of the organic law of a domestic banking institution that is a merging association. (d) Exception.--A health maintenance organization may be a merging association only if the surviving association is a health maintenance organization. (a) General rule.--A domestic entity may become a party to a merger by approving a plan of merger Tolley's Data Protection Handbook
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