605.1042 Plan of conversion.
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/fl/title-xxxvi/chapter-605/605-1042·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A domestic limited liability company may convert into a different type of domestic entity or into a foreign entity that is a foreign limited liability company or a different type of foreign entity by approving a plan of conversion. The plan must be in a record and contain the following:
(a)The name of the converting limited liability company.
(b)The name, jurisdiction of formation, and type of entity of the converted entity.
(c)The manner and basis of converting the interests and rights to acquire interests in the converting limited liability company 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, if any.
(f)Any other provision required by the law of this state or the organic rules of the converted limited liability company, if the entity is to be an entity other than a domestic limited liability company.
(g)All other statements required to be set forth in a plan of conversion by the law of the jurisdiction of formation of the converted entity following the conversion.
(2)In addition to the requirements of subsection (1), a plan of conversion may contain any other provision not prohibited by law.