ARS Section 29-848. Merger, Interest Exchange, Conversion, Domestication or Division; Definitions

ARS Section 29-848. Merger, Interest Exchange, Conversion, Domestication or Division; Definitions 2017-02-25T04:34:40+00:00

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.

Caution:  The above language was taken from Arizona’s statutes on November 13, 2016.  Check the Arizona legislature’s website to determine if this statute changed after November 13, 2016.