9.15.40 Conversion of Corporate Status Prohibited.
This section is included in your selections.
No corporation organized under this chapter may:
(a) Amend its articles of incorporation to convert its status to a corporation organized for profit; or
(b) Merge or consolidate with a corporation organized for profit, unless the corporation surviving the merger or consolidation is a nonprofit corporation. [Res. 2011-32; 2008 Code § 9.3.1.4]