Sec 10-2267. Merger, interest exchange, conversion, domestication or division; definitions

A. A domestic business development corporation may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapters 11 and 13 of this title and title 29, chapter 6.

B. If a domestic business development corporation is to be created in a merger, a conversion, a domestication or a division:

1. The shareholders of the corporation must be residents of this state as prescribed by section 10-2259, subsection A.

2. The formation of the corporation must otherwise comply with this chapter.

C. For the purposes of this section:

1. "Conversion" means a transaction authorized by title 29, chapter 6, article 4.

2. "Division" means a transaction authorized by title 29, chapter 6, article 6.

3. "Domestication" means a transaction authorized by title 29, chapter 6, article 5.

4. "Interest exchange" means a transaction authorized by title 29, chapter 6, article 3.

5. "Merger" means a transaction authorized by title 29, chapter 6, article 2.