183.1201 Merger.
(1) Unless the context requires otherwise, in this subchapter, “limited liability company" includes a domestic limited liability company and a foreign limited liability company.
(2) Unless otherwise provided in an operating agreement, one or more limited liability companies may merge with or into one or more other business entities if the merger is permitted under the applicable laws of the jurisdiction that governs each such other business entity and each business entity approves the plan of merger in the manner required by the laws applicable to the business entity.
(3) Interests in a limited liability company that is a party to a merger may be exchanged for or converted into cash, property, shares, obligations of or interests in the surviving business entity, or of any other business entity.
History: 1993 a. 112; 2001 a. 44.
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