N.J.S.A. 42:2C-79 — Action on plan of conversion by converting limited liability company.

42:2C-79 Action on plan of conversion by converting limited liability company. 79. Action on Plan of Conversion by Converting Limited Liability Company. a. Subject to section 86 of this act, a plan of conversion shall be consented to by all the members of a converting limited liability company. b. Subject to section 86 of this act and any contractual rights, after a conversion is approved, and at any time before articles of conversion are delivered to the filing office for filing under section 80 of this act, 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. L.2012, c.50, s.79.

This is the verbatim text of N.J.S.A. 42:2C-79, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.