(a) A domestic partnership 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 the partnership agreement that are, or are proposed to be, in a record of the acquired entity; (5) The other terms and conditions of the interest exchange; and (6) Any other provision required by the law of this state or the partnership agreement of the acquired entity. (b) In addition to the requirements of subsection (a) of this section, a plan of interest exchange may contain any other provision not prohibited by law. History of Section.P.L. 2022, ch. 123, § 2, effective January 1, 2023; P.L. 2022, ch. 124, § 2, effective January 1, 2023.
Rhode Island Legal Code