Wisconsin Statutes 181.1162 – Plan of conversion
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 181.1162
- Acquire: when used in connection with a grant of power to any person, includes the acquisition by purchase, grant, gift or bequest. See Wisconsin Statutes 990.01
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Property: includes real and personal property. See Wisconsin Statutes 990.01
(1) A plan of conversion must be in a record and contain all of the following:
(a) The name, type of entity, and governing law of the converting entity.
(b) The name, type of entity, and governing law of the converted entity.
(c) The terms and conditions of the conversion.
(d) The manner and basis of converting the interests in the converting entity into interests, securities, or obligations of the surviving entity, rights to acquire such interests or securities, money, other property, or any combination of the foregoing.
(e) The organizational documents of the converted entity that are to be in a record immediately after the conversion becomes effective.
(f) Any other matters required by the governing law of the converting entity.
(2) In addition to the requirements of sub. (1), a plan of conversion may contain any other provision relating to the conversion and not prohibited by law.