Section 53-8-41 - Procedure for consolidation.
53-8-41. Procedure for consolidation.
A. Any two or more domestic corporations may consolidate into a new corporation pursuant to a plan of consolidation approved in the manner provided in the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978].
B. Each corporation shall adopt a plan of consolidation setting forth:
(1) the names of the corporations proposing to consolidate, and the name of the new corporation into which they propose to consolidate, which is hereinafter designated as the new corporation;
(2) the terms and conditions of the proposed consolidation;
(3) with respect to the new corporation, all of the statements required to be set forth in articles of incorporation for corporations organized under the Nonprofit Corporation Act; and
(4) such other provisions with respect to the proposed consolidation as are deemed necessary or desirable.