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

Nebraska Statutes

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

Nebraska § 44-250

Ch. 44Insurance

This text of Nebraska § 44-250 (Plan of exchange; approval by directors) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 44-250 (2026).

Text

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.