{"data":{"id":"us-nh/rsa-293-c-5","jurisdiction":"us-nh","citation":"RSA 293-C:5","heading":"Termination of Benefit Corporation Status.","body":"I. A benefit corporation may terminate its status as such and cease to be subject to this chapter by amending its articles of incorporation to delete the provision required by RSA 293-C:3 or RSA 293-C:4, I to be stated in the articles of a benefit corporation. In order to be effective, the amendment shall be adopted by at least the minimum status vote.\nII. The following rules apply to a merger, interest exchange, or conversion:\n(a) Except as provided in subparagraph (b), if a plan of merger, conversion, or share exchange would have the effect of terminating the status of a business corporation as a benefit corporation, the plan shall be adopted by at least the minimum status vote in order to be effective.\n(b) Subparagraph (a) shall not apply in the case of a corporation that is a party to a merger if the shareholders of the corporation are not entitled to vote on the merger pursuant to RSA 293-A:11.05.\nIII. Any sale, lease, exchange, or other disposition of all or substantially all of the assets of a benefit corporation, unless the transaction is in the usual and regular course of business, shall not be effective unless the transaction is approved by at least the minimum status vote.","path":["Title XXVII: CORPORATIONS, ASSOCIATIONS, AND PROPRIETORS OF COMMON LANDS","Chapter 293-C: BENEFIT CORPORATIONS","Preliminary Provisions"],"source_url":"https://gc.nh.gov/rsa/html/XXVII/293-C/293-C-5.htm","current_through":"2025 regular legislative session, or December 2025","vintage":"","retrieved_at":"2026-09-05T14:50:49Z","sha256":"b7edefa98dd17fd3365c67b3c57ff3083433d2b77875e6ab7d32d10a5caede2f","source_id":"us-nh","stale":false,"prev":"us-nh/rsa-293-c-4","next":"us-nh/rsa-293-c-6"},"notice":"GroundRules: Original legal text. Not legal advice."}