44-250 Plan of exchange; approval by directors. - Nebraska Statutes

44-250. Plan of exchange; approval by directors.The board of directors of each corporation which is a party to a plan of exchange shall by resolution upon a vote of two-thirds of all of its directors approve a plan of exchange setting forth:(1) The names of the companies proposing to adopt a plan of exchange, and the names of the states or countries under which each of the companies is incorporated or organized;(2) The terms and conditions of the proposed plan of exchange, and the mode of carrying the same into effect;(3) The manner and basis of exchanging the shares of stock of the acquired company or other consideration involved in the plan of exchange; and(4) Such other provisions with respect to the plan of exchange as are deemed necessary or advisable. SourceLaws 1973, LB 296, § 3; R.S.1943, (1988), § 44-133.03.