Note: This version of section effective until 1-1-2018. See also following repeal of this chapter, effective 1-1-2018.

1. (b) A domestic corporation may become a foreign corporation only if the domestication is permitted by the laws of the foreign jurisdiction. Regardless of whether the laws of the foreign jurisdiction require the adoption of a plan of domestication, the domestication must be approved by the adoption by the corporation of a plan of domestication in the manner provided in this section. The laws of the foreign jurisdiction govern the effect of domesticating in that jurisdiction.

2. (c) The plan of domestication must include:

   1. (1) a statement of the jurisdiction in which the corporation is to be domesticated;
   2. (2) the terms and conditions of the domestication;

   3. (3) the manner and basis of reclassifying the shares of the corporation following its domestication into:

      1. (A) shares or other securities;
      2. (B) obligations;
      3. (C) rights to acquire shares or other securities;
      4. (D) cash;
      5. (E) other property; or
      6. (F) any combination of the types of assets referred to in clauses
      7. (A) through (E); and
   4. (4) any desired amendments to the articles of incorporation of the corporation following its domestication.

Sec. 4. (a) A foreign corporation may become a domestic corporation only if the domestication is permitted by the organic law of the foreign corporation. The laws of Indiana govern the effect of domesticating in Indiana under this chapter.

As added by P.L.178-2002, SEC.99. Amended by P.L.130-2006, SEC.6.