Idaho Code 30-22-305 – Statement of Interest Exchange — Effective Date of Interest Exchange
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(a) A statement of interest exchange must be signed by a domestic acquired entity and delivered to the secretary of state for filing.
(b) A statement of interest exchange must 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) If the statement of interest exchange is not to be effective upon filing, the later date and time on which it will become effective, which may not be more than ninety (90) days after the date of filing;
(4) A statement that the plan of interest exchange was approved by the acquired entity in accordance with this part; and
(5) Any amendments to the acquired entity’s public organic record, if any, approved as part of the plan of interest exchange.
Terms Used In Idaho Code 30-22-305
- 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
- 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
- Statement of interest exchange: means a statement under section 30-22-305, Idaho Code. See Idaho Code 30-22-102
(c) In addition to the requirements of subsection (b) of this section, a statement of interest exchange may contain any other provision not prohibited by law.
(d) A plan of interest exchange that is signed by a domestic acquired entity and meets all the requirements of subsection (b) of this section may be delivered to the secretary of state for filing instead of a statement of interest exchange and on filing has the same effect. If a plan of interest exchange is filed as provided in this subsection, references in this chapter to a statement of interest exchange refer to the plan of interest exchange filed under this subsection.
(e) A statement of interest exchange becomes effective on the date and time of filing or the later date and time specified in the statement of interest exchange.
(f) An interest exchange in which the acquired entity is a domestic entity is effective when the statement of interest exchange is effective.