322C.1003 ACTION ON PLAN OF MERGER OR EXCHANGE BY CONSTITUENT LIMITED LIABILITY COMPANY. Subdivision 1. Member consent required. Subject to section 322C.1015, a plan of merger or exchange must be consented to by all the members of a constituent limited liability company. Subd. 2. Amendment of plan or abandonment of merger or exchange. Subject to section 322C.1015 and any contractual rights, after a merger or exchange is approved, and at any time before the merger or exchange becomes effective according to this chapter, a constituent limited liability company may amend the plan or abandon the merger or exchange: (1) as provided in the plan; or (2) except as otherwise prohibited in the plan, with the same consent as was required to approve the plan. History: 2014 c 157 art 1 s 72 322C.1003 ACTION ON PLAN OF MERGER OR EXCHANGE BY CONSTITUENT LIMITED LIABILITY COMPANY. Subdivision 1. Member consent required. Subject to section 322C.1015, a plan of merger or exchange must be consented to by all the members of a constituent limited liability company. Subd. 2. Amendment of plan or abandonment of merger or exchange. Subject to section 322C.1015 and any contractual rights, after a merger or exchange is approved, and at any time before the merger or exchange becomes effective according to this chapter, a constituent limited liability company may amend the plan or abandon the merger or exchange: (1) as provided in the plan; or (2) except as otherwise prohibited in the plan, with the same consent as was required to approve the plan. History: 2014 c 157 art 1 s 72
Minnesota Legal Code