(a) Unless otherwise provided in writing in an operating agreement, a plan of conversion must be consented to by more than one-half (1/2) by number of the members of a converting limited liability company.
(b) Subject to any contractual rights, until a conversion is filed under ยง 4-32-1204, a converting limited liability company may amend the plan or abandon the planned conversion:
(1) As provided in the plan; and
(2) Except as prohibited by the plan, by the same consent required to approve the plan.
Section: Previous 4-32-1202 4-32-1203 4-32-1204 4-32-1205 4-32-1206 4-32-1207 4-32-1208 4-32-1209 4-32-1210 NextLast modified: November 15, 2016