Idaho Code 30-22-402 – Plan of Conversion
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(a) A domestic entity may convert to a different type of entity under this part by approving a plan of conversion. The plan must be in a record and contain:
(1) The name and type of entity of the converting entity;
(2) The name, jurisdiction of formation, and type of entity of the converted entity;
(3) The manner of converting the interests in the converting entity into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing;
(4) The proposed public organic record of the converted entity if it 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) In addition to the requirements of subsection (a) of this section, a plan of conversion may contain any other provision not prohibited by law.
Terms Used In Idaho Code 30-22-402
- Conversion: means a transaction authorized by part 4 of this chapter. See Idaho Code 30-22-102
- Converted entity: means the converting entity as it continues in existence after a conversion. See Idaho Code 30-22-102
- Converting entity: means the domestic entity that approves a plan of conversion pursuant to section 30-22-403, Idaho Code, or the foreign entity that approves a conversion pursuant to the law of its jurisdiction of formation. See Idaho Code 30-22-102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Plan: means a plan of merger, plan of interest exchange, plan of conversion or plan of domestication. See Idaho Code 30-22-102
- Plan of conversion: means a plan under section 30-22-402, Idaho Code. See Idaho Code 30-22-102
- Property: includes both real and personal property. See Idaho Code 73-114
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114