Article 9.
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/nc/chapter-57d/9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Article 9.
Conversion and Merger.
Part 1. Definitions.
§ 57D-9-01. Definitions.
Unless otherwise specifically provided, the following definitions apply in this Article:
(1)Articles of organization and conversion. - The document filed by the Secretary of State under G.S. 57D-9-22 for the purpose of converting an eligible entity into an LLC.
(2)Converting entity. - An eligible entity that converts into another eligible entity pursuant to Part 2 or Part 3 of this Article 9.
(3)Converting LLC. - A converting entity that is an LLC.
(4)Eligible entity. - A corporation, including a professional corporation as defined in G.S. 55B-2 and a foreign professional corporation defined in G.S. 55B-16, a domestic or foreign nonprofit corporation, a limited liability company, a domestic or foreign limited partnership, a registered limited liability partnership or foreign limited liability partnership as defined in G.S. 59-32, or any other partnership as defined in G.S. 59-36, whether or not formed under the laws of this State.
(5)Merging entity. - An eligible entity that is a party to a merger.
(6)Merging LLC. - A merging entity that is an LLC.
(7)Surviving entity. - The eligible entity into which a converting entity converts or into which an eligible entity is merged. (2013-157, s. 2.)