California Law (Last Updated: March 4, 2014) |
Corporations Code - CORP |
Title 1. CORPORATIONS |
Division 1. GENERAL CORPORATION LAW |
Chapter 11. Merger |
Section 1111.
Latest version.
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If any disappearing corporation in a merger is a close corporation and the surviving corporation is not a close corporation, the merger shall be approved by the affirmative vote of at least two-thirds of each class of the outstanding shares of such disappearing corporation; provided, however, that the articles may provide for a lesser vote, but not less than a majority of the outstanding shares of each class.
(Amended by Stats. 1976, Ch. 641.)