450.4701 Domestic limited liability companies; merger; plan.
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450.4701 Domestic limited liability companies; merger; plan.
Sec. 701.
(1)Two or more domestic limited liability companies may merge pursuant to a plan of merger approved as provided in section 702.
(2)The plan of merger shall set forth all of the following:
(a)The name of each constituent company and the name of the surviving company.
(b)The terms and conditions of the proposed merger, including the manner and basis of converting the membership interests in each limited liability company into membership interests in the surviving company, or into cash or other property, or into a combination thereof.
(c)A statement of any amendment to the articles of organization of the surviving company to be effected by the merger or any restatement of the articles of organization, or a statement that no changes are to be made in the articles of organization of the surviving company.
(d)Other provisions with respect to the proposed merger that the constituent companies consider necessary or desirable.
History: 1993, Act 23, Eff. June 1, 1993 ;-- Am. 1994, Act 410, Imd. Eff. Dec. 29, 1994 ;-- Am. 1997, Act 52 , Imd. Eff. July 1, 1997