Revised Code of Washington - RCW Title 23B Washington Business Corporation Act - Section 23B.11.020 Share exchange
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§ 23B.11.020. Share exchange
(1) 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 by RCW 23B.11.030, approve the exchange.
(2) The plan of exchange must set forth:
(a) The name of the corporation whose shares will be acquired and the name of the acquiring corporation;
(b) The terms and conditions of the exchange;
(c) The manner and basis of exchanging the shares to be acquired for shares, obligations, or other securities of the acquiring or any other corporation or for cash or other property in whole or part.
(3) The plan of exchange may set forth other provisions relating to the exchange.
(4) This section does not limit the power of a corporation to acquire all or part of the shares of one or more classes or series of another corporation through a voluntary exchange or otherwise.
[1989 c 165 § 132.]
Sections: 23B.11.010 23B.11.020 23B.11.030 23B.11.035 23B.11.040 23B.11.050 23B.11.060 23B.11.070 23B.11.080 23B.11.090 23B.11.100 23B.11.110
Last modified: April 7, 2009