(a) A plan of interest exchange may be amended only with the consent of each party to the plan, except as otherwise provided in the plan.
(b) A domestic acquired entity may approve an amendment of a plan of interest exchange:
(1) In the same manner as the plan was approved, if the plan does not provide for the manner in which it may be amended; or
(2) By its governors or interest holders in the manner provided in the plan, but an interest holder that was entitled to vote on or consent to approval of the interest exchange is entitled to vote on or consent to any amendment of the plan that will change:
(A) The amount or kind of interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing, to be received by any of the interest holders of the acquired entity under the plan;
(B) The public organic record, if any, or private organic rules of the acquired entity that will be in effect immediately after the interest exchange becomes effective, except for changes that do not require approval of the interest holders of the acquired entity under its organic law or organic rules; or
(C) Any other terms or conditions of the plan, if the change would adversely affect the interest holder in any material respect.

Terms Used In Idaho Code 30-22-304

  • Acquired entity: means the entity, all of one (1) or more classes or series of interests that are acquired in an interest exchange. See Idaho Code 30-22-102
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Approve: means , in the case of an entity, for its governors and interest holders to take whatever steps are necessary under the entity's organic rules, organic law, and other law to:
Idaho Code 30-22-102
  • Interest exchange: means a transaction authorized by part 3 of this chapter. See Idaho Code 30-22-102
  • Plan: means a plan of merger, plan of interest exchange, plan of conversion or plan of domestication. See Idaho Code 30-22-102
  • Plan of interest exchange: means a plan under section 30-22-302, Idaho Code. See Idaho Code 30-22-102
  • Property: includes both real and personal property. See Idaho Code 73-114
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
  • Statement of interest exchange: means a statement under section 30-22-305, Idaho Code. See Idaho Code 30-22-102
    • (c) After a plan of interest exchange has been approved and before a statement of interest exchange becomes effective, the plan may be abandoned as provided in the plan. Unless prohibited by the plan, a domestic acquired entity may abandon the plan in the same manner as the plan was approved.
    (d) If a plan of interest exchange is abandoned after a statement of interest exchange has been delivered to the secretary of state for filing and before the statement becomes effective, a statement of abandonment, signed by the acquired entity, must be delivered to the secretary of state for filing before the statement of interest exchange becomes effective. The statement of abandonment takes effect on filing, and the interest exchange is abandoned and does not become effective. The statement of abandonment must contain:
    (1) The name of the acquired entity;
    (2) The date on which the statement of interest exchange was filed by the secretary of state; and
    (3) A statement that the interest exchange has been abandoned in accordance with this section.