1. (a) A domestic entity may be the acquired entity in an interest exchange under this article by approving a plan of interest exchange. The plan must be in a record and contain:

   1. (1) the name and type of the acquired entity;
   2. (2) the name, jurisdiction of organization, and type of the acquiring entity;
   3. (3) the manner of converting the interests in the acquired entity into interests, securities, obligations, rights to acquire interests or securities, cash, or other property, or any combination of the foregoing;
   4. (4) any proposed amendments to the public organic document or private organic rules that are, or are proposed to be, in a record of the acquired entity;
   5. (5) the other terms and conditions of the interest exchange; and
   6. (6) any other provision required by the law of this state or the organic rules of the acquired entity.
2. (b) A plan of interest exchange may contain any other provision not prohibited by law.

As added by P.L.118-2017, SEC.6.