417. The chief electoral officer shall grant the authorization to merge to the parties which apply therefor in accordance with this subdivision.
The chief electoral officer shall refuse his authorization where the name of the party resulting from the merger includes the word “independent” or is likely to mislead the electors as to which party they are contributing.
The chief electoral officer shall also refuse his authorization where he has reasonable grounds to believe that the party resulting from the merger would be unable to discharge its outstanding liabilities or that the book value of its assets would be less than its liabilities.
The authorization is valid only in respect of the municipality mentioned in the application.