North Dakota Code 45-21-02 – (902) Conversion
Current as of: 2023 | Check for updates
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Other organizations may not convert to a partnership. However, a partnership may convert to another organization pursuant to sections 45-21-01 through 45-21-07.1 and a plan of conversion, if:
Terms Used In North Dakota Code 45-21-02
- 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.
- Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes a limited liability partnership registered under chapter 45-22. See North Dakota Code 1-01-49
- Statute: A law passed by a legislature.
1. The governing statute of the other organization authorizes the conversion; 2. The conversion is not prohibited by the law of the jurisdiction that enacted the governing statute; and
3. The other organization complies with its governing statute in effecting the conversion.