30-18-302 PLAN OF INTEREST EXCHANGE. - Idaho Statutes

TITLE 30

CORPORATIONS

CHAPTER 18

IDAHO ENTITY TRANSACTIONS ACT

PART 3

INTEREST EXCHANGE

30-18-302. Plan of interest exchange. (1) 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:

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

(b) The name, jurisdiction of organization, and type of the acquiring entity;

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

(d) Any proposed amendments to the public organic document or private organic rules that are, or are proposed to be, in a record of the acquired entity;

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

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

(2) A plan of interest exchange may contain any other provision not prohibited by law.