§ 48-21-101 — Chapter definitions

As used in this chapter, unless the context otherwise requires: (1) "Converted entity" means the domestic business corporation or domestic unincorporated entity that adopts a plan of entity conversion or the foreign unincorporated entity converting to a domestic business corporation; (2) "Eligible entity" means a domestic or foreign unincorporated entity or a domestic or foreign nonprofit corporation; (3) "Eligible interests" means interests or memberships; (4) "Filing entity" means an unincorporated entity that is of a type that is created by filing a public organic document; (5) "Interest holder" means a person who holds of record an interest; (6) "Membership" means the rights of a member in a domestic or foreign nonprofit corporation; (7) "Participating shares" means shares however denominated that entitle their holders to participate in distributions on dissolution after all preferences have been paid; (8) "Party to a merger or share exchange" means any domestic or foreign corporation, or eligible entity that will: (A) Merge in a plan of merger; (B) Acquire shares or eligible interests of another domestic or foreign corporation, or an eligible entity in a share exchange; or (C) Have all of its shares or eligible interests of one (1) or more classes or series acquired in share exchange; (9) "Survivor" means the corporation or unincorporated entity that is in existence immediately after consummation of a merger or entity conversion pursuant to this chapter; and (10) "Voting shares" means shares that entitle their holders to vote unconditionally in the election of directors.

Legislative History

Acts 1994, ch. 776, § 35; 2006, ch. 620, § 58; 2012, ch. 1051, § 39.