2013 New Jersey Revised Statutes
Title 42 - PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Section 42:2C-79 - Action on plan of conversion by converting limited liability company.


NJ Rev Stat § 42:2C-79 (2013) What's This?

42:2C-79 Action on plan of conversion by converting limited liability company.

79.Action on Plan of Conversion by Converting Limited Liability Company.

a.Subject to section 86 of this act, a plan of conversion shall be consented to by all the members of a converting limited liability company.

b.Subject to section 86 of this act and any contractual rights, after a conversion is approved, and at any time before articles of conversion are delivered to the filing office for filing under section 80 of this act, a converting limited liability company may amend the plan or abandon the conversion:

(1)as provided in the plan; or

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

L.2012, c.50, s.79.


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