§ 11.13.
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/vt/11-13A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 11.13. Domestication authorized
(a)A foreign corporation may become a domestic corporation pursuant to this section and sections 11.14 through 11.17 of this title and a plan of domestication if:
(1)the foreign corporation’s governing statute and its organizational documents permit the domestication; and
(2)the foreign corporation complies with its governing statute and organizational documents.
(b)A domestic corporation may become a foreign corporation pursuant to this section and sections 11.14 through 11.17 of this title and a plan of domestication if:
(1)its organizational documents permit the domestication; and
(2)the corporation complies with this section and sections 11.14 through 11.17 of this title and its organizational documents.
(c)A plan of domestication shall be in a record and shall include:
(1)the name of the domesticating corporation before domestication and the jurisdiction of its governing statute;
(2)the name of the domesticated corporation after domestication and the jurisdiction of its governing statute;
(3)the terms and conditions of the domestication, including the manner and basis for converting an interest holder’s interest in the domesticating organization into any combination of an interest in the domesticated organization and other consideration; and
(4)the organizational documents of the domesticated corporation that are, or are proposed to be, in a record. (Added 2015, No. 157 (Adj. Sess.), § E.1, eff. July 1, 2017.)