25.15.431  <<  25.15.436 >>   25.15.441

RCW 25.15.436

Conversion.

(1) An organization other than a limited liability company may convert into a limited liability company, and a limited liability company may convert into an organization pursuant to this section and RCW 25.15.441 through 25.15.451 and a plan of conversion, if:
(a) The other organization's governing statute authorizes the conversion;
(b) The conversion is not prohibited by the law of the jurisdiction that enacted the other organization's governing statute; and
(c) The other organization complies with its governing statute in effecting the conversion.
(2) A plan of conversion must be in a record and must include:
(a) The name and form of the organization before conversion;
(b) The name and form of the organization after conversion;
(c) The terms and conditions of the conversion, including the manner and basis for converting interests in the converting organization into any combination of the interests, shares, obligations, or other securities of the converted organization or any other organization or into cash or other property in whole or part; and
(d) The organizational documents of the converted organization.
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