Utah § 48-1d-1053 Approval of domestication.

Utah Statutes

§ 48-1d-1053 — Approval of domestication.

Utah·Title 48 Unincorporated Business Entity Act·Ch. 48-1d Utah Uniform Partnership Act·Part 48-1d-10 Merger, Interest Exchange, Conversion, and Domestication

(1)A plan of domestication of a domestic domesticating limited liability partnership is not effective unless it has been approved:

(1)(a) by all the partners entitled to vote on or consent to any matter; and

(1)(b) in a record, by each partner that will have interest holder liability for debts, obligations, and other liabilities that arise after the domestication becomes effective, unless:

(1)(b)(i) the partnership agreement of the entity provides in a record for the approval of a domestication or merger in which some or all of its partners become subject to interest holder liability by the vote or consent of fewer than all the partners; and

(1)(b)(ii) the partner voted for or consented in a record to that provision of the partnership agreement or became a partner after the adoption of t

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(1) A plan of domestication of a domestic domesticating limited liability partnership is not effective unless it has been approved:

(1)(a) by all the partners entitled to vote on or consent to any matter; and
(1)(b) in a record, by each partner that will have interest holder liability for debts, obligations, and other liabilities that arise after the domestication becomes effective, unless:
(1)(b)(i) the partnership agreement of the entity provides in a record for the approval of a domestication or merger in which some or all of its partners become subject to interest holder liability by the vote or consent of fewer than all the partners; and
(1)(b)(ii) the partner voted for or consented in a record to that provision of the partnership agreement or became a partner after the adoption of that provision.
(2) A domestication of a foreign domesticating limited liability partnership is not effective unless it is approved in accordance with the law of the foreign limited liability partnership's jurisdiction of formation.

Utah § 48-1d-1053 (Approval of domestication.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.