Section 32. Consolidation

Any  two  or more cooperatives (each of which is
  hereinafter designated a "consolidating cooperative"),  may  consolidate
  into  a  new cooperative (hereinafter designated the "new cooperative"),
  by complying with the following requirements:
    (a)  The  proposition  for  the  consolidation  of  the  consolidating
  cooperatives   into   the  new  cooperative  and  proposed  articles  of
  consolidation to give effect thereto shall be submitted to a meeting  of
  the members of each consolidating cooperative, the notice of which shall
  have attached thereto a copy of the proposed articles of consolidation;
    (b)  If  the  proposed  consolidation  and  the  proposed  articles of
  consolidation, with any amendments, are approved by the affirmative vote
  of not less than two-thirds  of  those  members  of  each  consolidating
  cooperative   voting   thereon   at   each  such  meeting,  articles  of
  consolidation in the form approved shall be executed and acknowledged on
  behalf  of  each  consolidating  cooperative   by   its   president   or
  vice-president and its seal shall be affixed thereto and attested by its
  secretary.  The  articles  of  consolidation  shall recite that they are
  executed pursuant to this chapter and shall state: (1) the name of  each
  consolidating  cooperative  and the address of its principal office; (2)
  the name of the new cooperative and the address of its principal office;
  (3) a statement  that  each  consolidating  cooperative  agrees  to  the
  consolidation;  (4)  the names and addresses of the directors of the new
  cooperative; and (5) the terms and conditions of the  consolidation  and
  the mode of carrying the same into effect, including the manner in which
  members of the consolidating cooperatives may or shall become members of
  the  new  cooperative;  and  may contain any provisions not inconsistent
  with this chapter deemed necessary or advisable for the conduct  of  the
  business of the new cooperative. The president or vice-president of each
  consolidating cooperative executing such articles of consolidation shall
  make  and annex thereto an affidavit stating that the provisions of this
  section in respect of such articles were  duly  complied  with  by  such
  cooperative.