Section 10.55.302. Plan of interest exchange.

   (a) A domestic entity may be the acquired entity in an interest exchange under AS 10.55.301 - 10.55.306 by approving a plan of interest exchange. The plan must be in a record and contain
        (1) the name and type of the acquired entity;
        (2) the name, jurisdiction of organization, and type of the acquiring entity;
        (3) 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 interests, securities, obligations, rights to acquire interests or securities, cash, or other property;
        (4) 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;
        (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) A plan of interest exchange may contain any other provision not prohibited by law.

Notes

History

(Sec. 10 ch 60 SLA 2013)