Arkansas § 4-38-1032 Plan of interest exchange

Arkansas Statutes

§ 4-38-1032 — Plan of interest exchange

Arkansas § 4-38-1032

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This text of Arkansas § 4-38-1032 (Plan of interest exchange) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 4-38-1032 (2026).

Text

(a)A domestic limited liability company may be the acquired entity in an interest exchange under this part by approving a plan of interest exchange. The plan must be in a record and contain:

(1)the name of the acquired entity;

(2)the name, jurisdiction of formation, and type of entity of the acquiring entity;

(3)the manner of converting the interests in the acquired entity into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing;

(4)any proposed amendments to:

(A)the certificate of organization of the acquired entity; and (B) the operating agreement of the acquired entity that are, or are proposed to be, in a record;

(5)the other terms and conditions of the interest exchange; and (6) any other prov

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(a) A domestic limited liability company may be the acquired entity in an interest exchange under this part by approving a plan of interest exchange. The plan must be in a record and contain: (1) the name of the acquired entity; (2) the name, jurisdiction of formation, and type of entity of the acquiring entity; (3) the manner of converting the interests in the acquired entity into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing; (4) any proposed amendments to: (A) the certificate of organization of the acquired entity; and (B) the operating agreement of the acquired entity that are, or are proposed to be, in a record; (5) the other terms and conditions of the interest exchange; and (6) any other provision required by the law of this state or the operating agreement of the acquired entity. (b) In addition to the requirements of subsection (a), a plan of interest exchange may contain any other provision not prohibited by law.