605.1053 Approval of domestication.
156 words·~1 min read·
/fl/title-xxxvi/chapter-605/605-1053·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A plan of domestication of a domesticating entity shall be approved:
(1)In accordance with the organic law of the domesticating entity’s jurisdiction of formation; and
(2)In a record, by each of the domesticating entity’s owners who will have interest holder liability for debts, obligations, and other liabilities that arise after the domestication becomes effective, unless:
(a)The organic rules of the domesticating entity in a record provide for the approval of a domestication in which some or all of the persons who are its owners become subject to interest holder liability by the vote or consent of fewer than all of the persons who are its owners; and
(b)The person who will be a member of the domesticated limited liability company consented in a record to or voted for that provision of the organic rules of the domesticating entity or became an owner of the domesticating entity after the adoption of that provision.