Current through the 2024 Regular Session
Section 30-22-402 - PLAN OF CONVERSION(a) A domestic entity may convert to a different type of entity under this part by approving a plan of conversion. The plan must be in a record and contain: (1) The name and type of entity of the converting entity;(2) The name, jurisdiction of formation, and type of entity of the converted entity;(3) The manner of converting the interests in the converting entity into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing;(4) The proposed public organic record of the converted entity if it will be a filing entity;(5) The full text of the private organic rules of the converted entity that are proposed to be in a record;(6) The other terms and conditions of the conversion; and(7) Any other provision required by the law of this state or the organic rules of the converting entity.(b) In addition to the requirements of subsection (a) of this section, a plan of conversion may contain any other provision not prohibited by law.[30-22-402, added 2015, ch. 243, sec. 20, p. 798.]Added by 2015 Session Laws, ch. 243,sec. 20, eff. 7/1/2015.