Section 10.55.502. Plan of domestication.

   (a) A domestic entity may become a foreign entity in a domestication by approving a plan of domestication. The plan must be in a record and contain
        (1) the name and type of the domesticating entity;
        (2) the name and jurisdiction of organization of the domesticated entity;
        (3) the manner of converting the interests in the domesticating entity into interests, securities, obligations, rights to acquire interests or securities, cash, or other property, or any combination of interests, securities, obligations, rights to acquire interests or securities, cash, or other property;
        (4) the proposed public organic document of the domesticated entity, if the domesticated entity is a filing entity;
        (5) the full text of the private organic rules of the domesticated entity 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 organic rules of the domesticating entity.
   (b) A plan of domestication may contain any other provision not prohibited by law.

Notes

History

(Sec. 10 ch 60 SLA 2013)