STATUTORY MERGER Definition

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STATUTORY MERGER is a merger where one entity remains as a legal entity, instead of a new legal entity being formed. See also STATUTORY CONSOLIDATION.

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MAINTENANCE is the activity involved in maintaining something in good working order. May include replacement of significant portions of the item(s) being maintained.

BILLBACK, in e-commerce and credit card transactions, is a means of recovering or reducing interchange fees for transactions clearing differently than planned. The processing company (FDC) passes through the charges to the merchant.

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