Section 489.1042 - Plan of conversion1. A domestic limited liability company may convert to a different type of entity under this part by approving a plan of conversion. The plan must be in a record and contain all of the following:a. The name of the converting limited liability company.b. The name, jurisdiction of formation, and type of entity of the converted entity.c. The manner of converting the interests in the converting limited liability company into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing.d. The proposed public organic record of the converted entity if it will be a filing entity.e. The full text of the private organic rules of the converted entity which are proposed to be in a record.f. The other terms and conditions of the conversion.g. Any other provision required by the law of this state or the operating agreement of the converting limited liability company.2. In addition to the requirements of subsection 1, a plan of conversion may contain any other provision not prohibited by law.Added by 2023 Iowa, ch 152, s 100, eff. 1/1/2024.Referred to in §489.105, 489.1001
Section effective January 1, 2024; 2023 Acts, ch 152, §161
NEW section