(a) Notwithstanding anything to the contrary contained in any general or public law, rule, or regulation, any two (2) or more entities, whether defined in § 7-6-2, § 7-1.2-106, § 7-13-1, or § 7-16-2, may merge into one of the entities pursuant to a plan of merger approved in the manner provided in this chapter. This section does not apply to insurance holding company systems as defined in § 27-35-1.
(b) Each entity shall adopt a plan of merger setting forth:
(1) The names of the entities proposing to merge, and the name of the entity into which they propose to merge, which is subsequently designated as the surviving entity;
(2) The terms and conditions of the proposed merger;
(3) A statement of any changes in the articles of incorporation of the surviving entity to be effected by the merger; and
(4) Such other provisions regarding the proposed merger that are deemed necessary or desirable.