1. After a plan of merger or share exchange has been adopted and approved as required by this subchapter, and before articles of merger or share exchange have become effective, the plan may be abandoned by a domestic business corporation that is a party to the plan without action by its shareholders in accordance with any procedures set forth in the plan of merger or share exchange or, ifno such procedures are set forth in the plan, in the manner determined by the board of directors. 2. If a merger or share exchange isabandoned under subsection 1 after articles of merger orshare exchange have been delivered tothe secretary of state for filingbut before the merger or share exchange has become effective, astatementof abandonment signed by allthe parties that signedthe articles of merger or share exchangeshall be delivered to the secretary of state for filing before the articles of merger or share exchange become effective. The statement shall take effect on filing and the merger or share exchange shall be deemed abandoned and shall not become effective. The statement of abandonment must contain allof the following: a. The name of each party to the merger or the names of the acquiring and acquired entities in a share exchange. b. The date on which the articles of merger or share exchange were filed by the secretary of state. c. A statement that the merger or share exchange has been abandoned in accordance with this section. 24, §104; 2021 Acts, ch 165, §155, 230
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