{"data":{"id":"us-ky/krs-275.500","jurisdiction":"us-ky","citation":"KRS 275.500","heading":"Share exchange between corporation and limited liability company.","body":"(1) A limited liability company may acquire all or part of the outstanding shares of one\n(1) or more classes or series of a domestic or foreign corporation if the corporation,\nlimited liability company, and a majority of their owners approve the exchange and,\nif the corporation is a foreign corporation, the share exchange is permitted under the\nlaws of the state or country under which the foreign corporation is incorporated.\n(2) The plan of share exchange shall set forth:\n(a) The name of the corporation whose s hares will be acquired and the name of\nthe acquiring limited liability company;\n(b) The terms and conditions of the exchange; and\n(c) The manner and basis of exchanging the shares to be acquired for limited\nliability company interests, obligations, or othe r securities of the acquiring\nlimited liability company or for cash or other property, in whole or part.\n(3) The plan of share exchange may set forth other provisions relating to the exchange.\n(4) This section shall not limit the power of a limited liabili ty company to acquire all or\npart of the shares of one (1) or more classes or series of a corporation through a\nvoluntary exchange or otherwise.\n(5) Unless otherwise provided in the articles of organization, a written operating\nagreement, or a written plan  of share exchange, no member of a limited liability\ncompany shall have the right to dissent from a share exchange.","path":["KRS Chapter 275"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13926","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:28Z","sha256":"adaa34291695c95cefb2d034480778cb421323d453185308a1a4e24244c5ecf4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-275.455","next":"us-ky/krs-275.505"},"notice":"GroundRules: Original legal text. Not legal advice."}