N.J.S.A 17:48E-5. Merger procedure

17:48E-5. Merger procedure

Upon the merger of a medical service corporation into a hospital service corporation, the surviving corporation shall qualify as a health service corporation, and the surviving corporation need not obtain a new charter or certificate of authority to act as a health service corporation, provided that:

a. The board of directors of the surviving corporation is constituted pursuant to the provisions of section 6 of this act; and

b. The certificate of incorporation of the hospital service corporation is amended, within 30 days of the merger, in accordance with the provisions of this act; and

C. The bylaws of the hospital service corporation are amended, within 30 days of the merger, in accordance with the provisions of this act; and

d. Evidence of compliance with subsections a., b., and C. of this section is filed with the Commissioner of Insurance.

L. 1985, C. 236, S.5, eff. July 15, 1985.

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NJ Maintained Unanotated Statutes References to 17:48E-5. Merger procedure

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