35-14-902. Excluded transactions.
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/mt/title-35/chapter-14/part-9/35-14-902·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
35-14-902 . Excluded transactions.
(1)This part may not be used to effect a transaction that:
(a)converts or domesticates a company organized on the mutual principle to one organized on the basis of share ownership;
(b)converts or domesticates banks and trust companies regulated under Title 32, chapter 1;
(c)converts or domesticates building and loan associations regulated under Title 32, chapter 2;
(d)converts or domesticates credit unions regulated under Title 32, chapter 3; or
(e)converts or domesticates insurance companies regulated under Title 33.
(2)The conversion of a domestic corporation to a domestic benefit corporation is governed by Title 35, chapter 1, part 14, and not by this part.