Section 10A-5A-10.05 - Merger(a) A limited liability company may merge with one or more other constituent organizations pursuant to this section, Sections 10A-5A-10.06 through 10A-5A-10.08, and a plan of merger, if: (1) the governing statute of each of the other organizations authorizes the merger;(2) the merger is not prohibited by the law of a jurisdiction that enacted any of those governing statutes; and(3) each of the other organizations complies with its governing statute in effecting the merger.(b) A plan of merger must be in writing and must include:(1) the name, type of organization, and mailing address of the principal office of each constituent organization, the jurisdiction of the governing statute of each constituent organization, and the respective unique identifying number or other designation as assigned by the Secretary of State, if any, of each constituent organization;(2) the name, type of organization, and mailing address of the principal office of the surviving organization, the unique identifying number or other designation as assigned by the Secretary of State, if any, of the surviving organization, the jurisdiction of the governing statute of the surviving organization, and, if the surviving organization is to be created pursuant to the merger, a statement to that effect;(3) the terms and conditions of the merger, including the manner and basis for converting the interests in each constituent organization into any combination of money, interests in the surviving organization, and other consideration as allowed by subsection (c);(4) if the surviving organization is to be created pursuant to the merger, the surviving organization's organizational documents; and(5) if the surviving organization is not to be created pursuant to the merger, any amendments to be made by the merger to the surviving organization's organizational documents.(c) In connection with a merger, rights or securities of or interests in a constituent organization may be exchanged for or converted into cash, property, or rights or securities of or interests in the surviving organization, or, in addition to or in lieu thereof, may be exchanged for or converted into cash, property, or rights or securities of or interests in another organization or may be cancelled.Ala. Code § 10A-5A-10.05 (1975)
Amended by Act 2019-94,§ 2, eff. 1/1/2020.Added by Act 2014-144,§ 1, eff. 1/1/2015.