Current through the 2024 Regular Session
Section 79-37-402 - Plan of conversion(a) A domestic entity may convert to a different type of entity under this article 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 which 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), a plan of conversion may contain any other provision not prohibited by law.Added by Laws, 2014, ch. 399, SB 2322, 21, eff. 1/1/2015.