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Searching 2023-2024 Session

The Vermont Statutes Online


Title 11A : Vermont Business Corporations


(Cite as: 11A V.S.A. § 11.03)
  • § 11.03. Plan of conversion

    (a) A domestic corporation may convert to a different type of organization under section 11.02 of this title by approving a plan of conversion, and a domestic organization, other than a corporation, may convert into a domestic corporation by approving a plan of conversion. The plan shall be in a record and shall contain:

    (1) the name of the converting corporation or organization;

    (2) the name, jurisdiction of formation, and type of organization of the converted organization;

    (3) the manner and basis for converting an interest holder’s interest in the converting organization into any combination of an interest in the converted organization and other consideration;

    (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 that 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 organizational documents of the converting corporation.

    (b) A plan of conversion may contain any other provision not prohibited by law. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994; amended 2015, No. 157 (Adj. Sess.), § E.1, eff. July 1, 2017.)