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2018 Idaho Statutes
Title 30 - CORPORATIONS
Chapter 22 - ENTITY TRANSACTIONS
Part 3 - INTEREST EXCHANGE
Section 30-22-305 - STATEMENT OF INTEREST EXCHANGE — EFFECTIVE DATE OF INTEREST EXCHANGE.
Universal Citation: ID Code § 30-22-305 (2018)
30-22-305. STATEMENT OF INTEREST EXCHANGE — EFFECTIVE DATE OF INTEREST EXCHANGE. (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.
(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.
History:
[30-22-305, added 2015, ch. 243, sec. 19, p. 796.]
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