8961 - Division authorized.
SUBCHAPTER H DIVISION Sec. 8961. Division authorized. 8962. Proposal and adoption of plan of division. 8963. Division without member approval. 8964. Certificate of division. 8965. Effect of division. § 8961. Division authorized. (a) Division of domestic company.--Any domestic limited liability company may, in the manner provided in this subchapter, be divided into two or more domestic limited liability companies organized or to be organized under this chapter, or into one or more domestic limited liability companies and one or more foreign limited liability companies to be organized under the laws of another jurisdiction or jurisdictions, or into two or more foreign limited liability companies, if the laws of the other jurisdictions authorize the division. (b) Division of foreign company.--Any foreign limited liability company may, in the manner provided in this subchapter, be divided into one or more domestic limited liability companies to be organized under this chapter and one or more foreign limited liability companies organized or to be organized under the laws of another jurisdiction or jurisdictions, or into two or more domestic limited liability companies, if the foreign limited liability company is authorized under the laws of the jurisdiction under which it is incorporated to effect a division. (c) Surviving and new companies.--The company effecting a division, if it survives the division, is designated in this subchapter as the surviving company. All companies originally organized by a division are designated in this subchapter as new companies. The surviving company, if any, and the new company or companies are collectively designated in this subchapter as the resulting companies.