(

a) A public benefit corporation may merge with any domestic corporation, foreign corporation (Section 171), or other business entity (Section 5063.5). However, without the prior written consent of the Attorney General, a public benefit corporation may only merge with another public benefit corporation or a religious corporation or a foreign nonprofit corporation or an unincorporated association the governing documents of which provide that its assets are irrevocably dedicated to charitable, religious, or public purposes.

In addition, a public benefit corporation that is exempt from the supervisory authority of the Attorney General pursuant to Sections and of the Government Code by virtue of being a committee, as defined in

Section of the Government Code, that is required to and does file any statement pursuant to the provisions of

Article 2 (commencing with

Section 84200) of

Chapter of Title of the Government Code, may merge with another public benefit corporation similarly exempt without having to obtain the Attorney General’s consent. (

b) At least days prior to consummation of any merger allowed by subdivision (a), the Attorney General must be provided with a copy of the proposed agreement of merger. (

c) Without the prior written consent of the Attorney General, when a merger occurs pursuant to subdivision (a), each member of a constituent corporation may only receive or keep a membership in the surviving corporation for or as a result of the member’s membership in the constituent corporation.