Source: https://law.justia.com/codes/hawaii/2010/division2/title23a/chapter428/428-904/
Timestamp: 2019-08-18 21:29:47
Document Index: 654285715

Matched Legal Cases: ['§ 428', '§428', '§428', '§ 428', '§428', '§1', '§23', '§107']

HI Rev Stat § 428-904 :: Merger. :: 2010 Hawaii Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes Hawaii Code 2010 Hawaii Code DIVISION 2. BUSINESS TITLE 23A. OTHER BUSINESS ENTITIES 428. Uniform Limited Liability Company Act §428-904 Merger.
§428-904 Merger.
HI Rev Stat § 428-904 (2010 through Reg Sess) What's This?
§428-904 Merger. (a) Pursuant to a plan of merger, a domestic or foreign limited liability company may merge with one or more domestic professional corporations, or with one or more limited liability companies or other business entities formed or organized under the laws of this State, any state or territory of the United States, any foreign jurisdiction, or any combination thereof, with one of the domestic professional corporations, domestic or foreign limited liability companies, or other business entities whether domestic or foreign, being the surviving entity as provided in the plan; provided that the merger is permitted by the law of the state or country under whose law each foreign entity that is a party to the merger is organized.
(1) The name and jurisdiction of formation or organization of each entity that is a party to the merger;
(2) The name of the surviving entity with or into which the other entity or entities will merge;
(4) The manner and basis for converting the interests of each party to the merger into interests or obligations of the surviving entity, or into money or other property in whole or in part;
(5) The street address of the surviving entity's principal place of business, or if no street address is available, the rural post office number or post office box designated or made available by the United States Postal Service; and
(6) Amendments, if any, to the organizing articles of the surviving entity or, if no amendments are desired, a statement that the organizing articles of the surviving entity shall not be amended pursuant to the merger.
(1) Amend the operating agreement of a limited liability company; or
(2) Adopt a new operating agreement for a limited liability company if it is the surviving entity in the merger.
(1) In the case of a limited liability company that is a party to the merger, unless otherwise provided in the operating agreement, by the members representing the percentage of ownership specified in the operating agreement, but not fewer than the members holding a majority of the ownership, or if provision is not made in the operating agreement, by all the members; and
(2) In the case of a foreign limited liability company that is a party to the merger, by the vote required for approval of a merger by the law of the state or foreign jurisdiction in which the foreign limited liability company is organized.
(1) Alter or change the amount or kind of shares, securities, cash, property, or rights to be received in exchange for or on conversion of all or any of the interests of the constituent company; or
(2) Alter or change any term of the organizing articles of the surviving entity to be effected by the merger.
(i) A merger takes effect on the filing date of the articles of merger or on the date subsequent to the filing as set forth in the articles of merger; provided that the effective date shall not be more than thirty days from the filing date. [L 1996, c 92, pt of §1; am L 2002, c 41, §23 and c 130, §107]