Sec. 7. (a) A corporation organized under IC 8-1-13 may merge or consolidate with: (1) one (1) or more cooperative corporations organized under IC 8-1-17 ; or (2) one (1) or more corporations formed under this chapter; if a plan of merger or consolidation that complies with section 8 of this chapter is approved under section 9 of this chapter. (b) A cooperative corporation organized under IC 8-1-17 may merge or consolidate with: (1) one (1) or more corporations organized under IC 8-1-13 ; or (2) one (1) or more corporations formed under this chapter; if a plan of merger or consolidation that complies with section 8 of this chapter is approved under section 9 of this chapter. (c) A surviving corporation or successor corporation formed under this chapter: (1) has all the rights, powers, privileges, immunities, and exemptions of: (A) a local district corporation organized under IC 8-1-13 ; and (B) a local cooperative corporation organized under IC 8-1-17 ; and (2) is considered to be both: (A) a local district corporation, within the meaning of that term as used in IC 8-1-13 ; and (B) a local cooperative corporation, within the meaning of that term as used in IC 8-1-17 .
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