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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A domestic corporation may convert to a different type of organization under section 11.02 of this title by approving a plan of conversion, and a domestic organization, other than a corporation, may convert into a domestic corporation by approving a plan of conversion. The plan shall be in a record and shall contain:
(1) the name of the converting corporation or organization;
(2) the name, jurisdiction of formation, and type of organization of the converted organization;
(3) the manner and basis for converting an interest holder's interest in the converting organization into any combination of an interest in the converted organization and other consideration;
(4) the proposed public organizational documents of the converted organization if it will be an organization with public organizational documents filed with the Secretary of State;
(5) the full text of the private organizational documents of the converted organization that are proposed to be in a record;
(6) the other terms and conditions of the conversion; and
(7) any other provision required by the law of this State or the organizational documents of the converting corporation.
(b) A plan of conversion may contain any other provision not prohibited by law.
Cite this article: FindLaw.com - Vermont Statutes Title 11 A. Vermont Business Corporations, § 11.03. Plan of conversion - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-11-a-vermont-business-corporations/vt-st-tit-11a-sect-11-03/
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