Idaho § 30-2005 - TERMINATION OF STATUS
Full text of Idaho Idaho Statutes § 30-2005 — TERMINATION OF STATUS, with citation guidance and answers to common questions.
§ 30-2005. TERMINATION OF STATUS
(1) 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 adopting benefit corporation status. In order to be effective, the amendment must be adopted by at least the minimum status vote.
(2) (a) Except as provided in paragraph (b) of this subsection, 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 must be adopted by at least the minimum status vote in order to be effective.
(b) Paragraph (a) of this subsection does 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 section 30-29-1105 , Idaho Code.
(3) 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.
[30-2005, added 2015, ch. 217, sec. 1, p. 675; am. 2016, ch. 47, sec. 8, p. 106.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 30-2005
What does Idaho Statutes § 30-2005 cover?
Section 30-2005 ("TERMINATION OF STATUS") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 30-2005?
A common citation format is "Idaho Statutes § 30-2005" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 30-2005 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.