490A.711 - CONTRACTUAL APPRAISAL RIGHTS.
490A.711 CONTRACTUAL APPRAISAL RIGHTS. An operating agreement or an agreement of merger may provide that contractual appraisal rights with respect to a membership interest or another interest in a limited liability company are available for any class or group of members or membership interests in connection with an amendment of an operating agreement, a merger in which the limited liability company is a constituent party to the merger, or the sale of all or substantially all of the limited liability company's assets. The district court of the county in which the limited liability company has its principal place of business has jurisdiction to hear and determine any matter relating to such appraisal rights.
Section History: Recent Form 97 Acts, ch 188, §68