주식교환을 현물출자로 이해한다면 완전자회사가 되는 회사의 주주총회의 결의만을 요하지만, 그 법적 성질을 특수한 조직법적 행위로 보기 때문에 완전모회사가 되는 회사의 주주총회의 결의도 요구되는 것이다.
If stock exchange is understood as in-kind investment, only a resolution at the general shareholders' meeting of the company that becomes a complete subsidiary is required, since the legal nature is viewed as a special organizational legal act, a resolution at the general shareholders' meeting of the company that becomes a complete parent company is also required.