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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 50. Alaska Revised Limited Liability Company Act
- Section 540. Use of Merger or Consolidation Agreement to Amend or Adopt Operating Agreement.
previous: Section 535
. Effective Date of Merger or Consolidation.
next: Section 545
. General Effects of Merger or Consolidation.
AS 10.50.540. Use of Merger or Consolidation Agreement to Amend or Adopt Operating Agreement.
- (a) An agreement of merger or consolidation approved under AS 10.50.510 may amend an operating agreement of a limited
liability company or adopt a new operating agreement for the company if the company is the surviving or resulting
limited liability company in the merger or consolidation.
- (b) An approved agreement of merger or consolidation may provide that the operating agreement of a limited liability
company that is a party to the merger or consolidation, including a limited liability company organized for the purpose
of consummating a merger or consolidation, is the operating agreement of a limited liability company that is the
surviving or resulting limited liability company.
- (c) An amendment to an operating agreement or the adoption of a new operating agreement under this section is effective
when the merger or consolidation is effective.
- (d) This subsection is not intended to limit the accomplishment of a merger or of a matter referred to in this section by
other means provided for in an operating agreement or in another agreement or as otherwise permitted by law.
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