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Current as of January 02, 2024 | Updated by Findlaw Staff
(a) A domestic limited partnership may convert to a different type of entity under this section and §§ 61-3-1112 -- 61-3-1115 by approving a plan of conversion. The plan must be in a record and contain:
(1) The name of the converting limited partnership;
(2) The name, jurisdiction of formation, and type of entity of the converted entity;
(3) The manner of converting the interests in the converting limited partnership 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 private organic rules of the converted entity that are proposed to be in a record when the conversion is effective;
(6) Any other terms and conditions of the conversion not otherwise set forth in the private organic rules of the converting limited partnership or the law of this state; and
(7) Any other provision required by the law of this state or the partnership agreement of the converting limited partnership.
(b) In addition to the requirements of subsection (a), a plan of conversion may contain any other provision not prohibited by law.
Cite this article: FindLaw.com - Tennessee Code Title 61. Partnerships § 61-3-1111 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-61-partnerships/tn-code-sect-61-3-1111/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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