Sec. 34-632. Plan of conversion.

161 words·~1 min read·/ct/title-34/chapter-616-entity-transactions/34-632

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A domestic entity may convert to a different type of entity under this part by approving a plan of conversion. The plan shall be in a record and contain:

(1)The name and type of the converting entity;

(2)The name, jurisdiction of organization and type of the converted entity;

(3)The manner of converting the interests in the converting entity into interests, securities, obligations, rights to acquire interests or securities, cash, or other property, or any combination thereof;

(4)The proposed public organic document of the converted entity if it shall 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)A plan of conversion may contain any other provision not prohibited by law.