Montana Code 35-14-933. Articles of conversion — effectiveness
35-14-933. Articles of conversion — effectiveness. (1) After:
Terms Used In Montana Code 35-14-933
- Conversion: means a transaction pursuant to 35-14-930 through 35-14-935. See Montana Code 35-14-901
- Converted entity: means the converting entity as it continues in existence after a conversion. See Montana Code 35-14-901
- Converting entity: means the domestic corporation or eligible entity that approves a plan of conversion pursuant to 35-14-932 or the foreign eligible entity that approves a conversion pursuant to the organic law of the eligible entity. See Montana Code 35-14-901
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(a)a plan of conversion of a domestic corporation has been adopted and approved as required by this chapter; or
(b)a domestic or foreign eligible entity that is the converting entity has approved a conversion as required under its organic law, articles of conversion must be signed by the converting entity and must:
(i)state the name, jurisdiction of formation, and type of entity of the converting entity;
(ii)state the name, jurisdiction of formation, and type of entity of the converted entity;
(iii)if the converting entity is:
(A)a domestic corporation, state that the plan of conversion was approved in accordance with 35-14-930 through 35-14-935; or
(B)(I) an eligible entity, state that the conversion was approved by the eligible entity in accordance with its organic law; or
(II)a domestic eligible entity the organic law of which does not provide for approval of the conversion, state that the conversion was approved by the domestic eligible entity in accordance with 35-14-930 through 35-14-935; and
(iv)if the converted entity is:
(A)a domestic business corporation or a domestic nonprofit corporation or filing entity, have attached the public organic record of the converted entity, except that provisions that would not be required to be included in a restated public organic record may be omitted; or
(B)a domestic limited liability partnership, have attached the filing required to become a limited liability partnership.
(2)If the converted entity is a domestic corporation, its articles of incorporation must satisfy the requirements of 35-14-202, except that provisions that would not be required to be included in restated articles of incorporation may be omitted from the articles of incorporation. If the converted entity is a domestic eligible entity, its public organic record, if any, must satisfy the requirements of the organic law of this state, except that the public organic record does not need to be signed.
(3)The articles of conversion must be delivered to the secretary of state for filing and take effect on the effective date determined in accordance with 35-14-123.
(4)If a converted entity is a domestic entity, the conversion becomes effective when the articles of conversion are effective. With respect to a conversion in which the converted entity is a foreign eligible entity, the conversion itself becomes effective on the later of:
(a)the date and time provided by the organic law of that eligible entity; or
(b)the date the articles of conversion become effective.
(5)Articles of conversion under this section may be combined with any required conversion filing under the organic law of a domestic eligible entity that is the converting entity or converted entity if the combined filing satisfies the requirements of both the other organic law and this section.
(6)If the converting entity is a foreign eligible entity that is registered to do business in this state under a provision of law similar to part 15 of this chapter, its registration statement or other type of foreign qualification is canceled automatically on the effective date of its conversion.