Sec. 10.55.404. Amendment or abandonment of plan of conversion.
(a) A plan of conversion of a domestic converting entity may be amended (1) in the same manner as the plan was approved, if the plan does not provide for the manner in which it may be amended; or (2) by the governors or interest holders of the entity in the manner provided in the […]
Sec. 10.55.405. Statement of conversion; effective date.
(a) A statement of conversion shall be signed on behalf of the converting entity and filed with the department. (b) A statement of conversion must contain (1) the name, jurisdiction of organization, and type of the converting entity; (2) the name, jurisdiction of organization, and type of the converted entity; (3) if the statement of […]
Sec. 10.55.406. Effect of conversion.
(a) When a conversion becomes effective, (1) the converted entity is (A) organized under and subject to the organic law of the converted entity; and (B) the same entity without interruption as the converting entity; (2) all property of the converting entity continues to be vested in the converted entity without assignment, reversion, or impairment; […]
Sec. 10.55.401. Conversion authorized.
(a) Except as otherwise provided in this section, by complying with AS 10.55.401 – 10.55.406, a domestic entity may become (1) a domestic entity of a different type; or (2) a foreign entity of a different type, if the conversion is authorized by the law of the foreign jurisdiction. (b) Except as otherwise provided in […]
Sec. 10.55.402. Plan of conversion.
(a) A domestic entity may convert to a different type of entity under AS 10.55.401 – 10.55.406 by approving a plan of conversion. The plan must be in a record and contain (1) the name and type of the converting entity; (2) the name, jurisdiction of organization, and type of the converted entity; (3) the […]
Sec. 10.55.403. Approval of conversion.
(a) A plan of conversion is not effective unless it has been approved (1) by a domestic converting entity (A) in accordance with the requirements, if any, in the converted entity’s organic rules for approval of a conversion; (B) if the converted entity’s organic rules do not provide for approval of a conversion, in accordance […]