Repealed 10/1/2026
242 words·~1 min read·
/ut/title-48/chapter-3a/10-26A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/12/2015
Repealed 10/1/2026
48-3a-1043. Approval of conversion.
(1)A plan of conversion is not effective unless it has been approved:
(a)by a domestic converting limited liability company by all the members of the limited liability company entitled to vote on or consent to any matter; and
(b)in a record, by each member of a domestic converting limited liability company that will have interest holder liability for debts, obligations, and other liabilities that arise after the conversion becomes effective:
(i)the operating agreement of the limited liability company provides in a record for the approval of a conversion or a merger in which some or all of its interest holders become subject to interest holder liability by the vote or consent of fewer than all the interest holders; and
(ii)the member voted for or consented in a record to that provision of the operating agreement or became a member after the adoption of that provision.
(2)A conversion involving a domestic converting entity that is not a limited liability company, including a subject entity, is not effective unless it is approved by the domestic converting entity in accordance with its organic law.
(3)A conversion of a foreign converting entity is not effective unless it is approved by the foreign entity in accordance with the law of the foreign entity's jurisdiction of formation.
Repealed by Chapter 93 , 2026 General Session
Amended by Chapter 227 , 2015 General Session