Restrictions on entity transactions involving series limited liability company

Restrictions on entity transactions involving series limited liability company. — A series limited liability company may not: (1) Participate in; be a party to; result from; or be formed, organized, established, or created by either of the following: (a) A conversion, domestication, or interest exchange, under this chapter or the law of a foreign jurisdiction, however the transaction is denominated under such law; or (b) A transaction with the same substantive effect as a conversion, domestication, or interest exchange under the law of this state or a foreign jurisdiction. (2) Except as otherwise provided in s. 605.2604 , be a party to or the surviving company of either of the following: (a) A merger under this chapter or the law of a foreign jurisdiction, however a merger is denominated under such law; or (b) A transaction with the same substantive effect as a merger under the law of this state or a foreign jurisdiction.