The ULPA and the RULLCA permit limited partnerships and LLCs to merge with other businesses. For the merger procedure, the first requirement is that the companies have to:

Question

Quizplus · Accepted Answer

The ULPA and the RULLCA require the companies to adopt a conversion plan for the merger process. This plan outlines how the two businesses will combine their assets, liabilities, and operations to form a new entity. Therefore, choice C is the best answer. Choice A is incorrect because filing a lawsuit is not necessary for a merger. Choice B is incorrect because there is no need to obtain consent from the state secretary. Choice D is incorrect because although an agreement is necessary for the merger, the adoption of a conversion plan is the first requirement.

The ULPA and the RULLCA Permit Limited Partnerships and LLCs