Any two or more cooperative associations may merge into one cooperative association in the following manner:
The board of directors of each cooperative association shall, by resolution adopted by a majority vote of all members of each board, approve a plan of merger which shall set forth:
1. The names of the cooperative associations proposing to merge and the name of the surviving association.
2. The terms and conditions of the proposed merger.
3. A statement of any changes in the articles of incorporation of the surviving association.
4. Other provisions deemed necessary or desirable.
[C71, 73, 75, 77, 79, 81, § 499.62]
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