13-C M.R.S. §1101: Definitions

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.

1. Eligible entity. "Eligible entity" means a domestic or foreign unincorporated entity or a domestic or foreign nonprofit corporation.

2. Eligible interests. "Eligible interests" means interests and memberships.

3. Merger. "Merger" means a business combination pursuant to section 1102.

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;

B. Acquire shares or eligible interests of another corporation or an eligible entity in a share exchange; or

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.

5. Share exchange. "Share exchange" means a business combination pursuant to section 1103.

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.