47-1A-955.1. Effect of conversion of domestic business to a foreign other entity.
80 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-955-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When a conversion of a domestic business corporation to a foreign other entity becomes effective, the surviving entity is deemed to:
(1)Appoint the Office of the Secretary of State as its agent for service of process in a proceeding to enforce the rights of shareholders who exercise appraisal rights in connection with the conversion; and
(2)Agree that it will promptly pay the amount, if any, to which such shareholders are entitled under §§ 47-1A-1301 to 47-1A-1331.2 , inclusive.