Plan of interest exchange

Ark. Code Ann. § 4-38-1032, under — Interest Exchange.

Ark. Code Ann. § 4-38-1032

(a) A domestic limited liability company may be the acquired entity in an interest exchange under this part by approving a plan of interest exchange. The plan must be in a record and contain:(1) the name of the acquired entity;(2) the name, jurisdiction of formation, and type of entity of the acquiring entity;(3) the manner of converting the interests in the acquired entity into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing;(4) any proposed amendments to:(A) the certificate of organization of the acquired entity; and(B) the operating agreement of the acquired entity that are, or are proposed to be, in a record;(5) the other terms and conditions of the interest exchange; and(6) any other provision required by the law of this state or the operating agreement of the acquired entity.

(1) the name of the acquired entity;

(2) the name, jurisdiction of formation, and type of entity of the acquiring entity;

(3) the manner of converting the interests in the acquired entity into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing;

(4) any proposed amendments to:(A) the certificate of organization of the acquired entity; and(B) the operating agreement of the acquired entity that are, or are proposed to be, in a record;

(A) the certificate of organization of the acquired entity; and

(B) the operating agreement of the acquired entity that are, or are proposed to be, in a record;

(5) the other terms and conditions of the interest exchange; and

(6) any other provision required by the law of this state or the operating agreement of the acquired entity.

(b) In addition to the requirements of subsection (a), a plan of interest exchange may contain any other provision not prohibited by law.