We are collaborating with another CT on some productions this fall. Most of the time, both boards can operate as a separate entity. The only time you need to marge a board is if one corporation is merging into another. If you are wanting to merge, all that needs to happen (assuming neither has 501 status):

1. Have a Board meeting to vote on the merger (both boards must vote in favor)
2. At that point, both companies are "one", and everyone is on the Board of Directors who were on with both companies, unless your merger agreement says otherwise.

If 501(c)3 status is involved, it makes it a little more difficult. If only one theater has 501 status, then make sure it spells in your merger agreement that all assets and 'ownership' of the company are being transfer to the company that has the 501(c)3 status. Because if you merge into another company, you will not normally be able to keep your current 501 status.

Hope that helps!

* This is not legal advice, only my opinion.


Edited by lparks - 4/05/10 at 9:54pm