§ 4-27-1801 - Share exchange.
4-27-1801. 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
(C) 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.