(a) Articles of consolidation or purchase shall be signed by a majority of the directors of the respective companies and shall be filed and recorded in the office of the Secretary of State.(b) The articles of consolidation or purchase shall set forth the amount of the capital stock, the names of the officers of the companies thus formed, and all conditions, agreements, and stipulations in the premises.(c) The amount of the capital stock of the company thus formed may be fixed at any amount not exceeding the aggregate sum authorized by the charter or articles of incorporation of the respective companies thus merging or amalgamating.Acts 1868, No. 71, § 43, p. 290; Act 4/29/1873, § 4 (not published); C. & M. Dig., § 8539; Pope's Dig., § 11115; A.S.A. 1947, § 73-417.
Arkansas Legal Code