(1) A charitable corporation may merge only with: (a) Another charitable corporation; (b) A foreign corporation that, if it were a domestic corporation, would qualify under this chapter as a charitable corporation; or (c) A foreign or domestic for-profit or nonprofit corporation, or unincorporated entity, only if the charitable corporation is the surviving corporation and continues to qualify as a charitable corporation after the merger. (2) No member of a charitable corporation may receive or keep anything as a result of a merger other than a membership in the surviving charitable corporation, unless: (a) The attorney general, or the court in a proceeding in which the attorney general has been given notice, has provided prior written consent; or (b) The member is a charitable corporation, another entity that is organized and operated exclusively for one or more charitable purposes, the federal government, or a tribal, state, or local government.
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