§ 11.09. Share exchange authorized; plan of share exchange
(a) A corporation may acquire all of the outstanding shares of one or more classes or series of another corporation if the board of directors of each corporation adopts, and its shareholders, if required under section 11.10 of this title, approve a plan of share exchange.
(b) The plan of share exchange shall be in a record and shall include:
(1) the name of the corporation whose shares will be acquired and the name of the acquiring corporation; and
(2) the terms and conditions of the share exchange; including the manner and basis of exchanging the shares to be acquired in exchange for shares of the acquiring corporation or other consideration.
(c) The plan of share exchange may contain any other provision not prohibited by law. (Added 2015, No. 157 (Adj. Sess.), § E.1, eff. July 1, 2017.)
Structure Vermont Statutes
Title 11A - Vermont Business Corporations
Chapter 11 - Conversion, Merger, Share Exchange, and Domestication
§ 11.02. Conversion authorized
§ 11.04. Approval of conversion
§ 11.05. Amendment or abandonment of plan of conversion
§ 11.06. Statement of conversion; effective date of conversion
§ 11.08. Merger authorized; plan of merger
§ 11.09. Share exchange authorized; plan of share exchange
§ 11.10. Approval of plan of merger or share exchange
§ 11.11. Filing required for merger or share exchange; effective date
§ 11.12. Effect of merger or share exchange
§ 11.13. Domestication authorized
§ 11.14. Action on plan of domestication
§ 11.15. Filing required for domestication; effective date
§ 11.16. Effect of domestication
§ 11.17. Restriction on approval of conversion, merger, and domestication