LegalFix
Sign In

Section 63.473 - Action on plan of conversion.

OR Rev Stat § 63.473 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a) In the case of a limited liability company, by a majority vote of its members, or by a greater vote if required by its articles of organization or any operating agreement.

(b) In the case of a business entity other than a limited liability company, as provided by the statutes governing that business entity.

(2) After a conversion is approved, and at any time before articles of conversion are filed, the planned conversion may be abandoned, subject to any contractual rights:

(a) By a limited liability company, without further action by the members, in accordance with the procedure set forth in the plan of conversion or, if none is set forth, in the manner determined by the managers.

(b) By a converting business entity that is not a limited liability company, in accordance with the procedure set forth in the plan of conversion or, if none is set forth, in the manner permitted by the statutes governing that business entity. [1999 c.362 §33]

Previous Section
Section 63.470 - Conversion.
Next Section
Section 63.476 - Articles and plan of conversion.