Section 10.55.203 - Approval of merger(a) A plan of merger is not effective unless it has been approved (1) by a domestic merging entity(A) in accordance with the requirements, if any, in the merging entity's organic law and organic rules for approval of, (i) in the case of an entity that is not a business corporation, a merger; or(ii) in the case of a business corporation, a merger requiring approval by a vote of the interest holders of the business corporation; or(B) if neither the merging entity's organic law nor organic rules provide for approval of a merger described in (A)(ii) of this paragraph, by all of the interest holders of the entity entitled to vote on or consent to any matter; and(2) in a record, by each interest holder of a domestic merging entity that will have interest-holder liability for liabilities that arise after the merger becomes effective, unless, in the case of an entity that is not a business corporation or nonprofit corporation,(A) the organic rules of the entity provide in a record for the approval of a merger in which some or all of the entity's interest holders become subject to interest-holder liability by the vote or consent of fewer than all of the interest holders; and(B) the interest holder voted for or consented in a record to that provision of the organic rules or became an interest holder after the adoption of that provision.(b) A merger involving a foreign merging entity is not effective unless it is approved by the foreign entity in accordance with the law of the foreign entity's jurisdiction of organization.Added by SLA 2013, ch. 60,sec. 10, eff. 7/1/2014.