30-22-502. PLAN OF DOMESTICATION.
170 words·~1 min read·
/id/title-30-corporations/chapter-22-entity-transactions/30-22-502·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 entity of the domesticating entity;
(2)The name and jurisdiction of formation of the domesticated entity;
(3)The manner of converting the interests in the domesticating entity into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing;
(4)The proposed public organic record of the domesticated entity if it 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)In addition to the requirements of subsection
(a)of this section, a plan of domestication may contain any other provision not prohibited by law.