(805 ILCS 105/111.10) (from Ch. 32, par. 111.10)
Sec. 111.10.
Merger of Domestic Corporation into Body Corporate and
Politic. A domestic corporation which carries on athletic sports and
promotes athletic interests among students of a State university with which
it is affiliated may be merged into a body corporate and politic which
manages and governs the State university. The domestic not-for-profit
corporation and the body corporate and politic may accomplish such merger
by adopting a plan of merger setting forth:
(a) The names of the domestic corporation and the body corporate and
politic which propose to merge; and the name of the body corporate and
politic into which they propose to merge, which is hereinafter designated
as the surviving corporation;
(b) The terms and conditions of the proposed merger; and
(c) Such other provisions with respect to the proposed merger as are
deemed necessary or desirable, including provisions, if any, under which
the proposed merger may be abandoned prior to the filing of Articles of
Merger in the office of the Secretary of State.
(Source: P.A. 86-6.)
|