§ 31-4448. Merger or consolidation--Procedures before voting.

Current through October 23, 2012

(a)(1) After approval from the Mayor, the board of directors shall, by resolution, direct that the plan of merger or of consolidation be voted upon at a meeting of the shareholders, the members, or the policyholders of record and entitled to vote.

(2) The vote may be conducted at either an annual or a special meeting.

(b) Written notice shall be delivered at least 20 days before the meeting, either personally or by mail, to each shareholder, member, or policyholder.

(c) The notice shall state the place, the time, and the purpose of the meeting, and a copy or a summary of the plan of merger or of consolidation shall be delivered with the notice.

(d) The notice shall also summarize dissenting shareholders' rights under § 31-4450.

                
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(June 19, 1934, ch. 672, ch. III, § 47, as added Mar. 14, 1985, D.C. Law 5- 160, § 3(c), 32 DCR 39.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 35-645.

Legislative History of Laws

For legislative history of D.C. Law 5-160, see Historical and Statutory Notes following § 31-4443.