California Law (Last Updated: March 4, 2014) |
Corporations Code - CORP |
Title 1. CORPORATIONS |
Division 2. NONPROFIT CORPORATION LAW |
Part 3. NONPROFIT MUTUAL BENEFIT CORPORATIONS |
Chapter 10. Mergers |
ARTICLE 1. Merger |
Section 8016.
Latest version.
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The board may, in its discretion, abandon a merger, subject to the contractual rights, if any, of third parties, including other constituent corporations, without further approval by the members (Section 5034) or other persons entitled to approve the merger at any time before the merger is effective.
(Amended by Stats. 1982, Ch. 662, Sec. 18.)