§ 16-16-1604. Filings required for conversion -- Effective date.

(1) After a plan of conversion is approved:

(a) a converting limited cooperative association shall deliver to the division for filing articles of conversion, which shall include:

(i) a statement that the limited cooperative association has been converted into another entity;

(ii) the name and form of the converted entity and the jurisdiction of its governing statute;

(iii) the date the conversion is effective under the governing statute of the converted entity;

(iv) a statement that the conversion was approved as required by this chapter;

(v) a statement that the conversion was approved as required by the governing statute of the converted entity; and

(vi) if the converted entity is an entity organized in a jurisdiction other than this state and is not authorized to transact business in this state, the street address and, if different, mailing address of an office which the division may use for purposes of Section 16-16-120; and

(b) if the converting entity is not a converting limited cooperative association, the converting entity shall deliver to the division for filing articles of organization, which shall include, in addition to the information required by Section 16-16-302:

(i) a statement that the association was converted from another entity;

(ii) the name and form of the converting entity and the jurisdiction of its governing statute; and

(iii) a statement that the conversion was approved in a manner that complied with the converting entity's governing statute.

(2) A conversion becomes effective:

(a) if the converted entity is a limited cooperative association, when the articles of conversion take effect pursuant to Subsection 16-16-203(3); or

(b) if the converted entity is not a limited cooperative association, as provided by the governing statute of the converted entity.

Amended by Chapter 378, 2010 General Session