29-752. Entity restructuring transactions

 

(Rpld. 9/1/20)

 

A. If a plan is approved as provided by section 29-753, a domestic limited liability company may be a party to or otherwise undertake a transaction by adopting a plan and otherwise complying with this article and:

1. Chapter 6, article 2 of this title for a merger.

2. Chapter 6, article 3 of this title for an interest exchange.

3. Chapter 6, article 4 of this title for a conversion.

4. Chapter 6, article 5 of this title for a domestication.

5. Chapter 6, article 6 of this title for a division.

B. The effective time and date of the transaction are as provided in chapter 6 of this title.  Except as expressly set forth in this article, the procedures regarding the effect of and all other aspects of the transaction are governed by chapter 6 of this title.

C. This section does not limit the power of a limited liability company to acquire all or part of the interests of another entity through a voluntary exchange or otherwise.