2020 Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 5A - Limited Liability Companies.
Article 10 - Conversions and Mergers.
Section 10A-5A-10.02 - Action on Plan of Conversion by Converting Limited Liability Company.

Universal Citation: AL Code § 10A-5A-10.02 (2020)

Section 10A-5A-10.02

Action on plan of conversion by converting limited liability company.

(a) Subject to Section 10A-5A-10.09, a plan of conversion must be consented to by all the members of a converting limited liability company.

(b) Subject to Section 10A-5A-10.09 and any contractual rights, after a conversion is approved, and at any time before a filing is made under Section 10A-5A-10.03, a converting limited liability company may amend the plan or abandon the planned conversion:

(1) as provided in the plan; and

(2) except as prohibited by the plan, by the same consent as was required to approve the plan.

(Act 2014-144, p. 265, §1.)

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