275.350 Approval of proposed merger -- No right of dissent.
(1)
(2)
(3)
(4)
Unless otherwise provided in a written operating agreement, a limited liability
company that is a party to a proposed merger shall approve the plan of merger in
KRS 275.355 by a majority-in-interest of the members.
Each business entity that is a party to a proposed merger shall approve the plan of
merger in the manner and by the vote required by the laws applicable to the
business entity.
Each business entity that is a party to the merger shall have the rights to abandon the
merger as provided for in the plan of merger or in the laws applicable to the
business entity.
Unless otherwise provided in the articles of organization, a written operating
agreement, or a written agreement and plan of merger, no member of a limited
liability company shall have the right to dissent from a merger.
Effective: July 15, 2010
History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 123, effective July 15,
2010. -- Amended 2007 Ky. Acts ch. 137, sec. 123, effective June 26, 2007. -Amended 1998 Ky. Acts ch. 341, sec. 40, effective July 15, 1998. -- Created 1994
Ky. Acts ch. 389, sec. 70, effective July 15, 1994.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183,
provides, "The specific textual provisions of Sections 1 to 178 of this Act which
reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed
effective as of June 26, 2007, and those provisions are hereby made expressly
retroactive to that date, with the remainder of the text of those sections being
unaffected by the provisions of this section."
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