Current through L. 2024, c. 185.
Section 11.14 - Action on plan of domestication(a) A domesticating corporation shall approve a plan of domestication as follows: (1) if the domesticating corporation is a domestic corporation, in accordance with this chapter and the corporation's organizational documents; provided that:(A) if its organizational documents do not specify the vote needed to approve domestication, then by the same vote required for a merger under its organizational documents; or(B) if its organizational documents do not specify the vote required for a merger, then by the number or percentage of shareholders required to approve a merger under this chapter;(2) if the domesticating corporation is a foreign corporation, as provided in its organizational documents and governing statute.(b) Subject to any contractual rights, after a domesticating corporation approves a domestication and before it delivers articles of domestication to the Secretary of State for filing, the domesticating corporation may amend the plan or abandon the domestication: (1) as provided in the plan; or(2) except as otherwise prohibited by the plan, in the same manner it approved the plan.Added 2015, No. 157 (Adj. Sess.), § E.1, eff. 7/1/2017.