Section 47-25A-8 – For-profit conversion–Plan of for-profit conversion.

47-25A-8. For-profit conversion–Plan of for-profit conversion. (a) A domestic nonprofit corporation may become a domestic business corporation pursuant to a plan of for-profit conversion. (b) A domestic nonprofit corporation may become a foreign business corporation if the for-profit conversion is permitted by the laws of the foreign jurisdiction. Regardless of whether the laws of the […]

Section 47-25A-9 – Conversion of domestic nonprofit corporation to domestic or foreign business corporation.

47-25A-9. Conversion of domestic nonprofit corporation to domestic or foreign business corporation. In the case of a conversion of a domestic nonprofit corporation to a domestic or foreign business corporation: (1)The plan of for-profit conversion must be adopted by the board of directors; (2)After adopting the plan of for-profit conversion, the board of directors must […]