42:2C-79 Action on plan of conversion by converting limited liability company.
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/nj/title-42/chapter-2c/42-2c-79A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
79. Action on Plan of Conversion by Converting Limited Liability Company.
a. Subject to section 86 of this act, a plan of conversion shall be consented to by all the members of a converting limited liability company.
b. Subject to section 86 of this act and any contractual rights, after a conversion is approved, and at any time before articles of conversion are delivered to the filing office for filing under section 80 of this act, a converting limited liability company may amend the plan or abandon the conversion:
(1)as provided in the plan; or
(2)except as otherwise prohibited in the plan, by the same consent as was required to approve the plan.
L.2012, c.50, s.79.