Current through 2024
Section 23.100.1303 - Plan of conversion(1) A qualifying entity may convert to a limited cooperative association under this subchapter by approving a plan of conversion. The plan must be in a record and contain: (a) The name and type of entity of the converting entity;(b) The name of the converted entity;(c) 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;(d) The proposed public organic record of the converted entity if it will be a filing entity;(e) The full text of the private organic rules of the converted entity which are proposed to be in a record;(f) The other terms and conditions of the conversion; and(g) Any other provision required by the law of this state or the organic rules of the converting entity.(2) In addition to the requirements of subsection (1) of this section, a plan of conversion may contain any other provision not prohibited by law.Added by 2019 c 37,§ 1303, eff. 7/28/2019.