Section 47-25-8 - Corporations having no members entitled to vote--Approval by directors

47-25-8. Corporations having no members entitled to vote--Approval by directors.Where any merging or consolidating corporation has no members, or no members entitled to vote thereon, a plan of merger or consolidation shall be adopted at a meeting of the board of directors of such corporation upon receiving the vote of a majority of the directors in office. Source: SL 1965, ch 24, §42 (2).