The following statements relative to merger or consolidation of cooperatives are presented to you for evaluation

I. Cooperatives belonging to the different category can be parties to the merger of consolidation.

II. The affirmative vote of at least three-fourths (3/4) of all members with voting rights, present and constituting a quorum from each of the constituent cooperatives, at separate general representative assembly meetings shall be necessary for the approval of the Plan of Merger of Consolidation.

III. In case of merger or consolidation of the cooperatives, the constituent cooperatives shall become a single cooperative which, in case of merger, shall be the survivor cooperative, and in case of consolidation, shall be the consolidated cooperative.

Please indicate the true or false.