1. (a) A corporation organized under IC 8-1-13 may merge or consolidate with:

   1. (1) one (1) or more cooperative corporations organized under IC 8-1-17 ; or

   2. (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.

2. (b) A cooperative corporation organized under IC 8-1-17 may merge or consolidate with:

   1. (1) one (1) or more corporations organized under IC 8-1-13 ; or

   2. (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.

3. (c) A surviving corporation or successor corporation formed under this chapter:

   1. (1) has all the rights, powers, privileges, immunities, and exemptions of:

      1. (A) a local district corporation organized under IC 8-1-13 ; and
      2. (B) a local cooperative corporation organized under IC 8-1-17 ; and

   2. (2) is considered to be both:

      1. (A) a local district corporation, within the meaning of that term as used in IC 8-1-13 ; and
      2. (B) a local cooperative corporation, within the meaning of that term as used in IC 8-1-17 .

As added by P.L.18-2010, SEC.1.