{"data":{"id":"us-nc/n.c.-gen.-stat.-55-11-01","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 55-11-01","heading":"Merger.","body":"(a)\tOne or more corporations may merge into another corporation if the board of directors of each corporation adopts and its shareholders (if required by G.S. 55-11-03) approve a plan of merger.\n(b)\tThe plan of merger shall set forth all of the following:\n(1)\tThe name of each corporation planning to merge and the name of the surviving corporation into which each other corporation plans to merge.\n(2)\tThe terms and conditions of the merger.\n(3)\tThe manner and basis of converting the shares of each corporation into shares, obligations, or other securities of the surviving or any other corporation, or into cash or other property in whole or part, or of cancelling the shares.\n(c)\tThe plan of merger may set forth:\n(1)\tAmendments to the articles of incorporation of the surviving corporation; and\n(2)\tOther provisions relating to the merger.\n(d)\tThe provisions of the plan of merger, other than the provisions referred to in subdivisions (b)(1) and (c)(1) of this section, may be made dependent on facts objectively ascertainable outside the plan of merger if the plan of merger sets forth the manner in which the facts will operate upon the affected provisions. The facts may include any of the following:\n(1)\tStatistical or market indices, market prices of any security or group of securities, interest rates, currency exchange rates, or similar economic or financial data.\n(2)\tA determination or action by the corporation or by any other person, group, or body.\n(3)\tThe terms of, or actions taken under, an agreement to which the corporation is a party, or any other agreement or document. (1925, c. 77, s. 1; 1939, c. 5; 1943, c. 270; G.S., s. 55-165; 1955, c. 1371, s. 1; 1969, c. 751, s. 37; 1973, c. 469, s. 31; 1989, c. 265, s. 1; 2005-268, s. 16; 2018-45, s. 16.)","path":["Chapter 55. North Carolina Business Corporation Act.","Article 11. Merger and Share Exchange."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_55/GS_55-11-01.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:57Z","sha256":"15b1b55e8851b68d5c1adb6c33c154bc3406f3a24aebee9e6c5520108dd15eff","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-55-10-22","next":"us-nc/n.c.-gen.-stat.-55-11-02"},"notice":"GroundRules: Original legal text. Not legal advice."}