§931. Nonprofit conversion 1. Domestic nonprofit corporation; nonprofit conversion plan. A domestic business corporation may become a domestic nonprofit corporation pursuant to a plan of nonprofit conversion as provided in this subchapter. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] 2. Foreign nonprofit corporation; nonprofit conversion […]
§932. Action on plan of nonprofit conversion In the case of a conversion of a domestic business corporation to a domestic or foreign nonprofit corporation: [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).] 1. Plan adopted by directors. The plan of nonprofit conversion must be adopted […]
§933. Articles of nonprofit conversion 1. Articles of nonprofit conversion. After a plan of nonprofit conversion providing for the conversion of a domestic business corporation, referred to in this section as the “corporation,” to a domestic nonprofit corporation has been adopted and approved as required by this Act, articles of nonprofit conversion must be executed […]
§934. Surrender of charter upon foreign nonprofit conversion 1. Articles of charter surrender. Whenever a domestic business corporation, referred to in this section as the “corporation,” has adopted and approved, in the manner required by this subchapter, a plan of nonprofit conversion providing for the corporation to be converted to a foreign nonprofit corporation, articles […]
§935. Effect of nonprofit conversion 1. Conversion to domestic nonprofit corporation. When the conversion of a domestic business corporation to a domestic nonprofit corporation, referred to in this subsection as the “corporation,” becomes effective: A. The title to all real and personal property, both tangible and intangible, of the domestic business corporation remains in […]
§936. Abandonment of nonprofit conversion 1. Abandonment of plan. Unless otherwise provided in a plan of nonprofit conversion of a domestic business corporation, after the plan has been adopted and approved as required by this subchapter and at any time before the nonprofit conversion has become effective, the plan may be abandoned by the corporation’s […]
