Nebraska § 44-250 Plan of exchange; approval by directors

Nebraska Statutes

§ 44-250 — Plan of exchange; approval by directors

Nebraska·Ch. 44 Insurance

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.

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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.

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