                                 CODE OF VIRGINIA

FILINGS WITH THE COMMISSION PURSUANT TO REORGANIZATION (§ 13.1-1003.1)

A. Notwithstanding anything to the contrary contained in &#xA7; 13.1-1003,
13.1-1011, 13.1-1014, 13.1-1014.1, 13.1-1050, 13.1-1072, or 13.1-1085, whenever,
pursuant to any applicable statute of the United States relating to
reorganizations of limited liability companies, a plan of reorganization of a
limited liability company has been confirmed by the decree or order of a court
of competent jurisdiction, the limited liability company may put into effect and
carry out the plan and decrees of the court relative thereto (i) through one or
more amendments to the limited liability company&#8217;s articles of
organization containing terms and conditions permitted by this chapter; (ii)
through a plan of merger or entity conversion; or (iii) through cancellation,
without action by the managers or members, to carry out the plan of
reorganization decreed or ordered by the court of competent jurisdiction under
federal statute.

B. The individual or individuals designated by the court shall deliver to the
Commission for filing articles of amendment, restatement, merger, entity
conversion, or cancellation, which, in addition to the matters otherwise
required or permitted by law to be set forth therein, shall set forth:

   1. The name of the limited liability company;

   2. Any provision relating to the amendment or amendments, plan of merger or
   entity conversion, or cancellation approved by the court;

   3. The name of the court and the date of the court&#8217;s order or decree
   approving the amendment, plan of merger or entity conversion, or cancellation;

   4. The title and case number, if any, of the reorganization proceeding in
   which the order or decree was entered; and

   5. A statement that the court had jurisdiction of the proceeding under federal
   statute.

C. If the Commission finds that the articles of amendment, restatement, merger,
entity conversion, or cancellation comply with the requirements of law and that
all required fees have been paid, it shall issue a certificate of amendment,
restatement, merger, entity conversion, or cancellation.

D. This section does not apply after entry of a final decree in the
reorganization proceeding even though the court retains jurisdiction of the
proceeding for limited purposes unrelated to consummation of the reorganization
plan.

HISTORY: 2016, c. 288.