2016 Nebraska Revised Statutes
Chapter 44 - INSURANCE
44-250 Plan of exchange; approval by directors.
44-250. Plan of exchange; approval by directors.
The board of directors of each corporation which is a party to a plan of exchange shall by resolution upon a vote of two-thirds of all of its directors approve a plan of exchange setting forth:
(1) The names of the companies proposing to adopt a plan of exchange, and the names of the states or countries under which each of the companies is incorporated or organized;
(2) The terms and conditions of the proposed plan of exchange, and the mode of carrying the same into effect;
(3) The manner and basis of exchanging the shares of stock of the acquired company or other consideration involved in the plan of exchange; and
(4) Such other provisions with respect to the plan of exchange as are deemed necessary or advisable.
Source
- Laws 1973, LB 296, § 3;
- R.S.1943, (1988), § 44-133.03.
Disclaimer: These codes may not be the most recent version. Nebraska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
