47-1A-951. Plan of entity conversion--Content.
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/sd/title-47/chapter-47-1/47-1a-951A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A plan of entity conversion must include:
(1)A statement of the type of other entity the surviving entity will be and, if it will be a foreign other entity, its jurisdiction of organization;
(2)The terms and conditions of the conversion;
(3)The manner and basis of converting the shares of the domestic business corporation following its conversion into interests or other securities, obligations, rights to acquire interests or other securities, cash, other property, or any combination of the foregoing; and
(4)The full text, as they will be in effect immediately after consummation of the conversion, of the organic documents of the surviving entity.