The board may, in its discretion, abandon a merger, subject to the contractual rights, if any, of third parties, including other constituent corporations, without further approval by the outstanding shares (Section 152), at any time before the merger is effective.
Cal. Corp. Code § 1105
Merger
Known as the General Corporation Law
The act spans §§ 100–2319 (398 sections).
Repealed and added by Stats. 1975, Ch. 682.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.