Section 10-9C-1103 (Effective January 1, 2010) Action on plan of conversion by converting limited partnership. - Alabama Statutes

Section 10-9C-1103

(Effective January 1, 2010) Action on plan of conversion by converting limited partnership.

(a) Subject to Section 10-9C-1110, a plan of conversion must be consented to by all the partners of a converting limited partnership.

(b) Subject to Section 10-9C-1110 and any contractual rights, after a conversion is approved, and at any time before a filing is made under Section 10-9C-1104, a converting limited partnership 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 2009-621, §1.)