§ 4-27-1804 - Effect of share exchange.

4-27-1804. Effect of share exchange.

When a share exchange takes effect, the shares of each acquired corporation are exchanged as provided in the plan and the former holders of the shares are entitled only to:

(1) The exchange rights provided in the articles of share exchange; or

(2) The rights of the former holders of the shares under 4-27-1301 et seq.