Code of Alabama - Title 10A: Alabama Business and Nonprofit Entities Code - Section 10A-8A-9.03 - Action on plan of conversion by converting partnership

Section 10A-8A-9.03 - Action on plan of conversion by converting partnership.

(a) Subject to Section 10A-8A-9.10, a plan of conversion must be consented to by all the partners of a converting partnership.

(b) Subject to Section 10A-8A-9.10 and any contractual rights, after a conversion is approved, and at any time before a filing is made under Section 10A-8A-9.04, a converting partnership 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 as was required to approve the plan.

(Act 2018-125, §7.)

Last modified: May 3, 2021