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respecting the transaction or by a related person of the director, | or both. |
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| | Sec. B-70. 13-C MRSA §921, sub-§5, as enacted by PL 2001, c. 640, Pt. | A, §2 and affected by Pt. B, §7, is amended to read: |
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| | 5. Transitional rule. If any debt security, note or similar | evidence of indebtedness for money borrowed, whether secured or | unsecured, or a contract of any kind issued, incurred or executed | by a domestic business corporation before July 1, 2003 contains a | provision applying to a merger of the corporation and the | document does not refer to a domestication of the corporation, | the provision is deemed to apply to a domestication of the | corporation until such time after that date as the provision is | amended. |
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| | Sec. B-71. 13-C MRSA §921, sub-§6 is enacted to read: |
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| | 6.__Extrinsic facts.__Terms of a plan of domestication may be | made dependent upon facts objectively ascertainable outside the | plan in accordance with section 121, subsection 10. |
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| | Sec. B-72. 13-C MRSA §922, sub-§7, as enacted by PL 2001, c. 640, Pt. | A, §2 and affected by Pt. B, §7, is amended to read: |
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| | 7. Transitional rule. If any provision of the corporation's | articles of incorporation or bylaws or of an agreement to which | any of the directors or shareholders are parties, adopted or | entered into before July 1, 2003, applies to a merger of the | corporation and that document does not refer to a domestication | of the corporation, the provision is deemed to apply to a | domestication of the corporation until such time after that date | as the provision is amended. |
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| | Sec. B-73. 13-C MRSA §922, sub-§8 is enacted to read: |
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| | 8.__Consent of shareholders.__A plan of domestication may be | approved for a participating corporation by written consent of | shareholders entitled to vote, as provided in section 704.__If | the plan of domestication is approved by written consent of all | shareholders, whether or not entitled to vote, a resolution of | the board of directors of the participating corporation | approving, proposing, submitting, recommending or otherwise | respecting the plan of domestication is not necessary and | shareholders of the participating corporation are not entitled to | receive notice of or to dissent from the plan of domestication. |
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| | Sec. B-74. 13-C MRSA §926, sub-§1, as enacted by PL 2001, c. 640, Pt. | A, §2 and affected by Pt. B, §7, is amended to read: |
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