Share exchange

(a) A corporation may acquire all of the outstanding shares of one (1) or more classes or series of another corporation if the board of directors and shareholders if required by § 4-27-1802 of each corporation approve the exchange. (b) The plan of exchange shall set forth: (1) The name of the corporation whose shares will be acquired and the name of the acquiring corporation; (2) The terms and conditions of the exchange; and (3) The manner and basis of exchanging the shares to be acquired for: (A) Shares, obligations, or other securities of the acquiring corporation or any other corporation; or (B) Cash or other property. (c) The plan of exchange may set forth other provisions relating to the exchange. (d) This section does not limit the power of a corporation to acquire all or part of the shares of one (1) or more classes or series of another corporation through a voluntary exchange or otherwise. Acts 2009, No. 408, § 4. (a) A corporation may acquire all of the outstanding shares of one (1) or more classes or series of another corporation if the board of directors and shareholders if required by § 4-27-1802 of each corporation approve the exchange. (b) The plan of exchange shall set forth: (1) The name of the corporation whose shares will be acquired and the name of the acquiring corporation; (2) The terms and conditions of the exchange; and (3) The manner and basis of exchanging the shares to be acquired for: (A) Shares, obligations, or other securities of the acquiring corporation or any other corporation; or (B) Cash or other property. (1) The name of the corporation whose shares will be acquired and the name of the acquiring corporation; (2) The terms and conditions of the exchange; and (3) The manner and basis of exchanging the shares to be acquired for: (A) Shares, obligations, or other securities of the acquiring corporation or any other corporation; or (B) Cash or other property. (A) Shares, obligations, or other securities of the acquiring corporation or any other corporation; or (B) Cash or other property. (c) The plan of exchange may set forth other provisions relating to the exchange. (d) This section does not limit the power of a corporation to acquire all or part of the shares of one (1) or more classes or series of another corporation through a voluntary exchange or otherwise. Acts 2009, No. 408, § 4.