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.
Original Text maintained by the State of New Jersey:
Disclaimer: Always check for the most up to date language of a statute. Every time a new law is enacted it has a possibility of changing the wording of a statute or override case law. These pages were created to assist in looking up and migrating between statutes easily. No accuracy is guaranteed. If you need help with researching law, contact an attorney.