Vermont Statutes Title 11 Sec. 4153
Terms Used In Vermont Statutes Title 11 Sec. 4153
- Domesticating company: means the company that effects a domestication pursuant to sections 4152 through 4155 of this title. See
- Foreign limited liability company: means an unincorporated entity organized under laws, other than the laws of this State, which afford limited liability to its owners comparable to the liability under section 4042 of this title. See
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See
- Statute: A law passed by a legislature.
§ 4153. Action on plan of domestication by domesticating limited liability company
(a) A plan of domestication shall be consented to:
(1) by all the members, subject to section 4156 of this title, if the domesticating company is a limited liability company; and
(2) as provided in the domesticating company’s governing statute, if the company is a foreign limited liability company.
(b) Subject to any contractual rights, after a domestication is approved, and at any time before articles of domestication are delivered to the Secretary of State for filing under section 4154 of this title, a domesticating limited liability company may amend the plan or abandon the domestication:
(1) as provided in the plan; or
(2) except as otherwise prohibited in the plan, by the same consent as was required to approve the plan. (Added 2015, No. 17, § 2.)