N.D. Cent. Code § 10-32.1-60
This is the official text of N.D. Cent. Code § 10-32.1-60, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-32.1-60. Effect of an exchange
Official statutory text
10-32.1-60. Effect of an exchange
When an exchange becomes effective, the membership interests in a limited liability
company to be exchanged under the terms of the plan are considered to be exchanged. The
members owning those membership interests are entitled only to the ownership interests,
securities, money, or other property into which those membership interests have been
converted or for which those membership interests have been exchanged according to the plan.
When an exchange becomes effective, the membership interests in a limited liability
company to be exchanged under the terms of the plan are considered to be exchanged. The
members owning those membership interests are entitled only to the ownership interests,
securities, money, or other property into which those membership interests have been
converted or for which those membership interests have been exchanged according to the plan.
Status: in_force · Read it on the official government site
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