Interest exchange authorized.
R.I. Gen. Laws § 7-12.1-1131
in effect7-12.1-1131. Interest exchange authorized.
(a) By complying with this part:
(1) A domestic partnership may acquire all of one or more classes or series of interests
of another domestic entity or a foreign entity in exchange for interests, securities,
obligations, money, other property, rights to acquire interests or securities, or
any combination of the foregoing; or
(2) All of one or more classes or series of interests of a domestic partnership may be
acquired by another domestic entity or a foreign entity in exchange for interests,
securities, obligations, money, other property, rights to acquire interests or securities,
or any combination of the foregoing.
(b) By complying with the provisions of this part applicable to foreign entities, a foreign
entity may be the acquiring or acquired entity in an interest exchange under this
part if the interest exchange is authorized by the law of the foreign entity’s jurisdiction
of formation.
(c) If a protected agreement contains a provision that applies to a merger of a domestic
partnership but does not refer to an interest exchange, the provision applies to an
interest exchange in which the domestic partnership is the acquired entity as if the
interest exchange were a merger until the provision is amended after January 1, 2023.
P.L. 2022, ch. 123, § 2, effective January 1, 2023; P.L. 2022, ch. 124, § 2, effective
January 1, 2023.
Source: State of Rhode Island General Assembly (rilegislature.gov)URL: https://webserver.rilegislature.gov/Statutes/TITLE7/7-12.1/7-11/7-3/7-12.1-1131.htmFetched: 10/20/2026