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California Law (Last Updated: March 4, 2014) |
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Corporations Code - CORP |
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Title 1. CORPORATIONS |
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Division 1.5. CORPORATE FLEXIBILITY ACT OF 2011 |
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Chapter 10. Reorganizations |
Section 3400.
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A reorganization or a share exchange tender offer shall be approved by the board of all of the following:
(a) Each constituent flexible purpose corporation in a merger reorganization.
(b) The acquiring flexible purpose corporation in an exchange reorganization.
(c) The acquiring flexible purpose corporation and the flexible purpose corporation whose property and assets are acquired in a sale-of-assets reorganization.
(d) The acquiring flexible purpose corporation in a share exchange tender offer.
(e) The flexible purpose corporation in control of any constituent or acquiring domestic or foreign flexible purpose corporation or other business entity under subdivision (a), (b), or (c) and whose equity securities are issued, transferred, or exchanged in the reorganization, hereafter a "parent party."