(a) Any two (2) or more domestic corporations may consolidate into a new corporation pursuant to a plan of consolidation approved in the manner provided in this subchapter.(b) Each corporation shall adopt a plan of consolidation setting forth:(1) The names of the corporations proposing to consolidate;(2) The name of the new corporation into which they propose to consolidate, which is hereinafter designated as the new corporation;(3) The terms and conditions of the proposed consolidation;(4) With respect to the new corporation, all of the statements required to be set forth in articles of incorporation for corporations organized under the Arkansas Nonprofit Corporation Act, § 4-28-201 et seq.; and(5) Any other provisions with respect to the proposed consolidation as are deemed necessary or desirable.Acts 1983, No. 614, § 2; A.S.A. 1947, § 64-1926.
Arkansas Legal Code