17-78-302. Agreement of interest exchange.

181 words·~1 min read·/ks/chapter-17/17-78-302

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A domestic entity may be the acquired entity in an interest exchange under K.S.A. 17-78-301 through 17-78-306 , and amendments thereto, by approving an agreement of interest exchange. The agreement shall be in a record and contain:

(1)The name and type of the acquired entity;

(2)the name, jurisdiction of organization and type of the acquiring entity;

(3)the manner of converting the interests in the acquired entity into interests, securities, obligations, rights to acquire interests or securities, cash, or other property or any combination thereof;

(4)any proposed amendments to the public organic document or private organic rules, which may amend and restate its public organic document or its private organic rules or both, that are, or are proposed to be, in a record of the acquired entity;

(5)the other terms and conditions of the interest exchange; and

(6)any other provision required by the law of this state or the organic rules of the acquired entity.

(b)An agreement of interest exchange may contain any other provision not prohibited by law.