Glossary
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Merger of associations
The integration of two or more associations into one association is referred to as a merger and is subject to specific rules in accordance with the Merger Act. Either one association is integrated into another one, or a new association is formed. The basis for the merger is a written merger agreement; it requires the approval of the general meetings with a qualified majority of three-quarters of the members present. All assets and liabilities shall be transferred to the new entity. The members of the merging associations shall become members of the new or the surviving association, if they wish.
