§ 3-103. Consideration for stock or assets

   In a consolidation, merger, or share exchange, stock in a corporation may be exchanged for or converted into and, in a transfer of assets, assets may be transferred in consideration of any one or more of the following:

   (1) Stock, evidence of indebtedness, partnership or limited liability company interests, or other securities of the successor or any other corporation or entity, whether or not a party to the transaction;

   (2) Other tangible or intangible property;

   (3) Money; and

   (4) Any other consideration.

HISTORY: An. Code 1957, art. 23, § 65; 1975, ch. 311, § 2; 1976, ch. 567, § 2; 1980, ch. 132; 1988, ch. 550; 1992, ch. 536.