The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
010
:
CONVERSION, MERGER, AND DOMESTICATION
(Cite as: 11 V.S.A. § 4143)
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§ 4143. Plan of conversion
(a) A domestic limited liability company may convert to a different type of organization
under section 4142 of this title, by approving a plan of conversion. The plan shall be in a record and contain:
(1) the name of the converting limited liability company;
(2) the name, jurisdiction of formation, and type of organization of the converted organization;
(3) the manner of converting the interests in the converting limited liability company
into interests, securities, obligations, money, other property, rights to acquire
interests or securities, or any combination of the foregoing;
(4) the proposed public organizational documents of the converted organization if it will
be an organization with public organizational documents filed with the Secretary of
State;
(5) the full text of the private organizational documents of the converted organization
which are proposed to be in a record;
(6) the other terms and conditions of the conversion; and
(7) any other provision required by the law of this State or the operating agreement of
the converting limited liability company.
(b) A domestic general partnership or a domestic limited partnership may convert into
a domestic limited liability company by approving a plan of conversion setting forth
the terms and conditions of the conversion of the interests of partners of a partnership
or of a limited partnership, as the case may be, into interests in the converted limited
liability company or the cash or other consideration to be paid or delivered as a
result of the conversion of the interests of the partners, or a combination thereof.
(c) In addition to the requirements of subsection (a) of this section, a plan of conversion
may contain any other provision not prohibited by law. (Added 2015, No. 17, § 2.)