Sec. 201. Conversion authorized.
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/il/chapter-805/act-415/201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 201. Conversion authorized.
(a)By complying with this Article, a domestic entity may become:
(1)a domestic entity of a different type; or
(2)a foreign entity of a different type, if the conversion is authorized by the law of
the foreign jurisdiction.
(b)By complying with the provisions of this Article applicable to foreign entities, a foreign entity may become a domestic entity of a different type if the conversion is authorized by the law of the foreign entity's jurisdiction of organization.
(c)If a protected agreement contains a provision that applies to a merger of a domestic entity, but does not refer to a conversion, the provision applies to a conversion of the entity as if the conversion were a merger until the provision is amended after the effective date of this Act.