ACTION ON PLAN OF CONVERSION BY CONVERTING LIMITED LIABILITY COMPANY.

322C.1008 ACTION ON PLAN OF CONVERSION BY CONVERTING LIMITED LIABILITY COMPANY. § Subdivision 1.Member consent required. Subject to section 322C.1015, a plan of conversion must be consented to by all the members of a converting limited liability company. § Subd. 2.Amendment of plan or abandonment of conversion. Subject to section 322C.1015 and any contractual rights, after a conversion is approved, and at any time before articles of conversion are delivered to the secretary of state for filing under section 322C.1009, a converting limited liability company may amend the plan or abandon the conversion: (1) as provided in the plan; or (2) except as otherwise prohibited in the plan, by the same consent as was required to approve the plan. History: 2014 c 157 art 1 s 77