1. (a) A plan of merger may be amended only with the consent of each party to the plan, except as otherwise provided in the plan. A domestic merging entity may approve an amendment of a plan of merger:

   1. (1) In the same manner as the plan was approved, if the plan does not provide for the manner in which it may be amended; or

   2. (2) By the governors or interest holders of the entity in the manner provided in the plan, but an interest holder that was entitled to vote on or consent to approval of the merger shall be entitled to vote on or consent to any amendment of the plan that will change:

      1. (A) The amount or kind of interests, securities, obligations, rights to acquire interests or securities, money, or other property, or any combination of the foregoing, to be received by the interest holders of any party to the plan;
      2. (B) The public organic record, if any, or private organic rules of the surviving entity that will be in effect immediately after the merger becomes effective, except for changes that do not require approval of the interest holders of the surviving entity under its organic law or organic rules; or
      3. (C) Any other terms or conditions of the plan, if the change would adversely affect the interest holder in any material respect.

2. (b) After a plan of merger has been approved and before a statement of merger becomes effective, the plan may be abandoned:

   1. (1) As provided in the plan; or
   2. (2) Unless prohibited by the plan, by a domestic merging entity in the same manner as the plan was approved.

3. (c) If a plan of merger is abandoned after a statement of merger has been delivered to the Mayor for filing and before the statement of merger becomes effective, a statement of abandonment, signed by a party to the plan, shall be delivered to the Mayor for filing before the time the statement of merger becomes effective. The statement of abandonment shall be effective upon filing by the Mayor, and the merger shall be abandoned and shall not become effective. The statement of abandonment shall contain:

   1. (1) The name of each party to the plan of merger;
   2. (2) The date on which the statement of merger was filed; and
   3. (3) A statement that the merger has been abandoned in accordance with this section.

History

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720

Mar. 5, 2013, D.C. Law 19-210, § 2(b)(8), 59 DCR 13171

Editor's Notes

Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.

Effect of Amendments

The 2013 amendment by D.C. Law 19-210 rewrote the section.