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§ 29-848 Merger, interest exchange, conversion, domestication or division; definitions

AZ Rev Stat § 29-848 (2019) (N/A)
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29-848. Merger, interest exchange, conversion, domestication or division; definitions

(Rpld. 9/1/20)

A. A domestic professional limited liability company may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with article 7 of this chapter and chapter 6 of this title.

B. If a domestic professional limited liability company is to be created in a merger, a conversion, a domestication or a division:

1. The members of the company must be qualified to be members as provided by section 29-844, subsection B.

2. The articles of organization of the company must comply with section 29-841.01, subsection A.

C. For the purposes of this section:

1. " Conversion" means a transaction authorized by chapter 6, article 4 of this title.

2. " Division" means a transaction authorized by chapter 6, article 6 of this title.

3. " Domestication" means a transaction authorized by chapter 6, article 5 of this title.

4. " Interest exchange" means a transaction authorized by chapter 6, article 3 of this title.

5. " Merger" means a transaction authorized by chapter 6, article 2 of this title.

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