10-1102. Share exchange


A. 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, if required by section 10-1103, its shareholders approve, the exchange.


B. The plan of exchange shall set forth all of the following:


1. The name of the corporation whose shares will be acquired and the name of the
acquiring corporation.


2. The terms and conditions of the exchange.


3. 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.


C. The plan of exchange may set forth other provisions relating to the exchange.


D. 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.