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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>72286</law_id><section_number>13.1-1259</section_number><catch_line>Exchange of securities; termination or amendment of merger</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="14">Virginia Business Trust Act</unit><unit label="article" level="3" order_by="1" identifier="11">Merger</unit></structure><text>
						<section><p>In connection with a merger, rights or securities of, or interests in, a <span class="dictionary">business trust</span> or <span class="dictionary">other business entity</span> that is a constituent <span class="dictionary">party</span> to the merger may be exchanged for or converted into cash, property, rights, or securities of, or interests in, the successor <span class="dictionary">business trust</span> or any <span class="dictionary">other business entity</span>, whether or not a <span class="dictionary">party</span> to the transaction. Notwithstanding prior approval, an agreement of merger may be terminated or amended under a provision for the termination or amendment contained in the agreement of merger.</p></section></text><history>2002, c. 621.</history><metadata></metadata></law>
