Section 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 manner of converting the interests in the converting entity into interests, securities, obligations, rights to acquire interests or securities, cash, or other property, or any combination of interests, securities, obligations, rights to acquire interests or securities, cash, or other property;
        (4) the proposed public organic document of the converted entity, if the converted entity will be a filing entity;
        (5) the full text of the private organic rules of the converted entity that are proposed to be in a record;
        (6) the other terms and conditions of the conversion; and
        (7) any other provision required by the law of this state or the organic rules of the converting entity.
   (b) A plan of conversion may contain any other provision not prohibited by law.

Notes

History

(Sec. 10 ch 60 SLA 2013)