§ 4-38-1052 — Plan of domestication

(a) A domestic limited liability company may become a foreign limited liability company in a domestication by approving a plan of domestication. The plan must be in a record and contain: (1) the name of the domesticating limited liability company; (2) the name and jurisdiction of formation of the domesticated limited liability company; (3) the manner of converting the interests in the domesticating limited liability company into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing; (4) the proposed certificate of organization of the domesticated limited liability company; (5) the full text of the provisions of the operating agreement of the domesticated limited liability company that are proposed to be in a record; (6) the other terms and conditions of the domestication; and (7) any other provision required by the law of this state or the operating agreement of the domesticating limited liability company. (b) In addition to the requirements of subsection (a), a plan of domestication may contain any other provision not prohibited by law.

Legislative History

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.