§1101. Definitions
As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
1.
Eligible entity.
"Eligible entity" means a domestic or foreign unincorporated entity or a domestic or foreign nonprofit corporation.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
2.
Eligible interests.
"Eligible interests" means interests and memberships.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
3.
Merger.
"Merger" means a business combination pursuant to section 1102.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
4.
Party to a merger or party to a share exchange.
"Party to a merger" or "party to a share exchange" means any domestic or foreign corporation or eligible entity that will:
A.
Merge under a plan of merger;
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
B.
Acquire shares or eligible interests of another corporation or an eligible entity in a share exchange; or
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
C.
Have all of its shares or eligible interests or all of one or more classes or series of its shares or eligible interests acquired in a share exchange.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
5.
Share exchange.
"Share exchange" means a business combination pursuant to section 1103.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
6.
Survivor.
"Survivor" in a merger means the corporation or eligible entity into which one or more other corporations or eligible entities are merged. A survivor of a merger may preexist the merger or be created by the merger.
[PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF).