16-1a-803. Plan of interest exchange.
196 words·~1 min read·
/ut/title-16/chapter-1a/16-1a-803A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 10/1/2026
16-1a-803. Plan of interest exchange.
(1)A domestic entity may be the acquired entity in an interest exchange under this part by approving a plan of interest exchange.
(2)A domestic entity shall create a plan of interest exchange in a record and include in the plan of exchange:
(a)the name and type of entity of the acquired entity;
(b)the name, jurisdiction, and type of entity of the acquiring entity;
(c)the process of converting the interests in the acquired entity into interests, securities, obligations, money, other property, or rights to acquire interests or securities;
(d)any proposed amendment to:
(i)the public organic record, if any, of the acquired entity;
(ii)the private organic rules of the acquired entity that are, or are proposed to be, in a record;
(iii)other terms and conditions of the interest exchange; and
(iv)any other provision required by the law of this state or the organic rules of the acquired entity.
(3)In addition to the requirements described in Subsection
(2), a plan of interest exchange may contain any other provision not prohibited by law.
Enacted by Chapter 93 , 2026 General Session