Idaho Code 30-22-302 – Plan of Interest Exchange
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(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.
Terms Used In Idaho Code 30-22-302
- Acquired entity: means the entity, all of one (1) or more classes or series of interests that are acquired in an interest exchange. See Idaho Code 30-22-102
- Acquiring entity: means the entity that acquires all of one (1) or more classes or series of interests of the acquired entity in an interest exchange. See Idaho Code 30-22-102
- Interest exchange: means a transaction authorized by part 3 of this chapter. See Idaho Code 30-22-102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Plan: means a plan of merger, plan of interest exchange, plan of conversion or plan of domestication. See Idaho Code 30-22-102
- Plan of interest exchange: means a plan under section 30-22-302, Idaho Code. See Idaho Code 30-22-102
- Property: includes both real and personal property. See Idaho Code 73-114
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114