16-16-1602 - Conversion. - Utah Statutes

16-16-1602. Conversion.
(1) An entity that is not a limited cooperative association may convert to a limitedcooperative association and a limited cooperative association may convert to an entity that is nota limited cooperative association pursuant to this section, Sections 16-16-1603 through16-16-1605, and a plan of conversion, if:
(a) the other entity's organic law authorizes the conversion;
(b) the conversion is not prohibited by the law of the jurisdiction that enacted the otherentity's organic law; and
(c) the other entity complies with its organic law in effecting the conversion.
(2) A plan of conversion shall be in a record and shall include:
(a) the name and form of the entity before conversion;
(b) the name and form of the entity after conversion;
(c) the terms and conditions of the conversion, including the manner and basis forconverting interests in the converting entity into any combination of money, interests in theconverted entity, and other consideration; and
(d) the organizational documents of the proposed converted entity.

Amended by Chapter 378, 2010 General Session