16-1a-1005. Amendment or abandonment of plan of domestication.

418 words·~2 min read·/ut/title-16/chapter-1a/16-1a-1005

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

Effective 10/1/2026

(1)A domestic domesticating entity may amend a plan of domestication for the domestic domesticating entity:

(a)in the same manner as the domestic domesticating entity approved the plan of domestication; or

(b)through the domestic domesticating entity's governors or interest holders in the manner provided in the plan of domestication, if an interest holder that was entitled to vote on or consent to approval of the domestication is entitled to vote on any amendment to the plan of domestication that will change:

(i)the amount or kind of interests, securities, obligations, money, other property, or rights to acquire interest or securities that an interest holder of the domesticating entity will receive under the plan of domestication;

(ii)the public organic record, if any, or private organic rules of the domesticated entity that will take effect immediately after the domestication takes effect, except for any change that does not require the approval of the interest holders of the domesticated entity under the domesticated entity's organic law or organic rules; or

(iii)any other term or condition of the plan, if the change would adversely affect the interest holder in any material respect.

(a)After a domestic domesticating entity approves a plan of domestication and before a statement of domestication takes effect, the domestic domesticating entity may abandon the plan of domestication as provided in the plan of domestication.

(b)Unless prohibited by the plan of domestication, a domestic domesticating entity may abandon the plan of domestication in the same manner as the domestic domesticating entity approved the plan of domestication.

(3)If a domestic domesticating entity abandons a plan of domestication after delivering a statement of domestication to the division for filing and before the statement of abandonment is effective, the domestic domesticating entity shall:

(a)sign a statement of abandonment; and

(b)deliver the signed statement of abandonment to the division for filing before the statement of domestication takes effect.

(4)A statement of abandonment takes effect on the day and time on which the division files the statement of abandonment and the domestication is abandoned and does not take effect.

(5)A statement of abandonment shall contain:

(a)the name of the domesticating entity;

(b)the day on which the domesticating entity files the statement of domestication with the division; and

(c)a statement that the domestic domesticating entity abandoned the domestication in accordance with this section.

Enacted by Chapter 93 , 2026 General Session