Texas Business Organizations Code 101.627 – Conversion of a Registered Series to a Protected Series
(a) Upon compliance with § 101.628, a registered series of a domestic limited liability company may convert to a protected series of the domestic limited liability company by filing a certificate of conversion that complies with § 101.631 with the secretary of state in accordance with and taking effect as a filing instrument as specified by Chapter 4.
(b) Upon compliance with § 101.628, a protected series of a domestic limited liability company may convert to a registered series of the domestic limited liability company by filing simultaneously with the secretary of state in accordance with, and taking effect as a filing instrument as specified by, Chapter 4:
(1) a certificate of conversion that complies with § 101.631; and
(2) a certificate of registered series as provided by § 101.623.
Terms Used In Texas Business Organizations Code 101.627
- Conversion: means :
(A) the continuance of a domestic entity as a non-code organization of any type;
(B) the continuance of a non-code organization as a domestic entity of any type;
(C) the continuance of a domestic entity of one type as a domestic entity of another type;
(D) the continuance of a domestic entity of one type as a foreign entity of the same type that may be treated as a domestication, continuance, or transfer transaction under the laws of the jurisdiction of formation of the foreign entity; or
(E) the continuance of a foreign entity of one type as a domestic entity of the same type that may be treated as a domestication, continuance, or transfer transaction under the laws of the jurisdiction of formation of the foreign entity. See Texas Business Organizations Code 1.002 - Domestic: means , with respect to an entity, that the entity is formed under this code or the entity's internal affairs are governed by this code. See Texas Business Organizations Code 1.002
- Filing instrument: means an instrument, document, consent, or statement that is required or authorized by this code to be filed by or for an entity with the filing officer in accordance with Chapter 4. See Texas Business Organizations Code 1.002
- Limited liability company: means an entity governed as a limited liability company under Title 3 or 7. See Texas Business Organizations Code 1.002
- Protected series: means a series of a domestic limited liability company that is established as a protected series in accordance with § 101. See Texas Business Organizations Code 1.002
- Registered series: means a series of a domestic limited liability company that is formed as a registered series in accordance with § 101. See Texas Business Organizations Code 1.002
- Secretary: means the:
(A) individual designated as secretary of an entity under the entity's governing documents; or
(B) officer or committee of persons authorized to perform the functions of secretary of an entity without regard to the designated name of the officer or committee. See Texas Business Organizations Code 1.002
(c) An existing registered series may not become a protected series except as provided by Subsection (a) and Sections 101.628 through 101.632.
(d) For purposes of this section and Sections 101.628 through 101.632:
(1) “Conversion” means the continuation of:
(A) a registered series as a protected series; or
(B) a protected series as a registered series.
(2) “Converted series” means a registered series or protected series resulting from a conversion of, respectively, a protected series or registered series, of a domestic limited liability company.
(3) “Converting series” means a registered series or protected series before a conversion of that series.
(4) “Plan of conversion” means a document that conforms with the requirements of § 101.628.