What Is the Difference Between the Procedures Governing Mergers and Consolidations

question 68

Multiple Choice

What is the difference between the procedures governing mergers and consolidations?

• A) With consolidation, the plan need not be submitted to the secretary of state.
• B) With consolidation, only the board of directors of both involved corporations must approve the plan; with merger, the shareholders of both involved corporations must also approve the plan.
• C) Unlike merger, with consolidation, no approval certificate is necessary.
• D) Unlike consolidation, with merger, the shareholders must approve the plan before it goes to the board of directors.
• E) The procedures governing mergers and consolidations are the same.

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