N.Y. Insurance Law § 7103: Content of merger or consolidation agreement, and of charter of surviving or consolidated company

§ 7103. Content of merger or consolidation agreement, and of charter

of surviving or consolidated company. (a) Any agreement for merger or

consolidation shall contain the proposed charter of the surviving or

consolidated company and such other particulars as may be necessary to

explain and make manifest the objects and purposes of the surviving or

consolidated company and the manner in which it is to be conducted. Such

company may be given the name of one or more of the constituent

companies, which name shall, however, comply with subsection (g) of

section one thousand one hundred two of this chapter. The approval of

such agreement by the superintendent shall constitute an approval of

such proposed charter.

(b) The proposed charter shall conform to all requirements of

paragraph five of subsection (a) of section one thousand two hundred one

of this chapter.

(c) If the surviving or consolidated company shall be a stock company,

its charter shall provide that its capital shall be no larger than the

sum of the capital of the constituent companies.