(a) A limited liability company may be the acquired limited liability company in an interest exchange under sections 34-279l to 34-279q, inclusive, by approving a plan of interest exchange. The plan must be in a record and contain: (1) The name of the acquired limited liability company; (2) the name and the governing jurisdiction of the acquiring limited liability company or foreign limited liability company; (3) the manner of converting the transferable interests in the acquired limited liability company into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing; (4) any proposed amendments to the certificate of organization or operating agreement that are, or are proposed to be, in a record of the acquired limited liability company; (5) the other terms and conditions of the interest exchange; and (6) any other provision required by the law of this state or the organizational documents of the acquired limited liability company.
(b) In addition to the requirements of subsection (a) of this section, a plan of interest exchange may contain any other provision not prohibited by law.
(P.A. 16-97, S. 93.)
History: P.A. 16-97 effective July 1, 2017.