Plan of domestication.
A domestic entity may become a foreign entity in a domestication by approving a plan of domestication. The plan shall be in a record and contain: The name and type of the domesticating entity; The name and jurisdiction of formation of the domesticated entity; The manner of converting the interests in the domesticating entity into interests, securities, obligations, rights to acquire interests or securities, money, or other property, or any combination of the foregoing; The proposed public organic record of the domesticated entity if it is a filing entity; The full text of the private organic rules of the domesticated entity that are proposed to be in a record; The other terms and conditions of the domestication; and Any other provision required by the law of the District or the organic rules of the domesticating entity. A plan of domestication may contain any other provision not prohibited by law.
Annotations
July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720 Mar. 5, 2013, D.C. Law 19-210, § 2(b)(24), 59 DCR 13171 Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012. The 2013 amendment by D.C. Law 19-210 substituted “formation” for “organization” in (a)(2); substituted “money” for “cash” in (a)(3); and substituted “record” for “document” in (a)(4). This section is referenced in § 29-201.02.
Sourced from the DC Council Open Law Library (public domain).
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