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Idaho Statutes Title 30. Corporations § 30-22-302. Plan of interest exchange

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A domestic entity may be the acquired entity in an interest exchange under this part by approving a plan of interest exchange. The plan must be in a record and contain:

(1) The name and type of entity of the acquired entity;

(2) The name, jurisdiction of formation, and type of entity of the acquiring entity;

(3) The manner of converting the interests in the acquired entity into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing;

(4) Any proposed amendments to:

(A) The public organic record, if any, of the acquired entity; and

(B) The private organic rules of the acquired entity that are, or are proposed to be, in a record;

(5) The other terms and conditions of the interest exchange; and

(6) Any other provision required by the law of this state or the organic rules of the acquired entity.

(b) In addition to the requirements of subsection (a) of this section, a plan of interest exchange may contain any other provision not prohibited by law.

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Cite this article: FindLaw.com - Idaho Statutes Title 30. Corporations § 30-22-302. Plan of interest exchange - last updated January 01, 2024 | https://codes.findlaw.com/id/title-30-corporations/id-st-sect-30-22-302/

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