UTAH CODE (Last Updated: January 16, 2015) |
Title 48. Partnership |
Chapter 1d. Utah Uniform Partnership Act |
Part 10. Merger, Interest Exchange, Conversion, and Domestication |
§ 48-1d-1044. Amendment or abandonment of plan of conversion.
Latest version.
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(2) After a plan of conversion has been approved by a domestic converting partnership and before a statement of conversion becomes effective, the plan may be abandoned as provided in the plan. Unless prohibited by the plan, a domestic converting partnership may abandon the plan in the same manner as the plan was approved. (3) If a plan of conversion is abandoned after a statement of conversion has been delivered to the division for filing and before the statement of conversion becomes effective, a statement of abandonment, signed by the converting entity, must be delivered to the division for filing before the time the statement of conversion becomes effective. The statement of abandonment takes effect on filing, and the conversion is abandoned and does not become effective. The statement of abandonment must contain: (a) the name of the converting partnership; (b) the date on which the statement of conversion was delivered to the division for filing; and (c) a statement that the conversion has been abandoned in accordance with this section.
Enacted by Chapter 412, 2013 General Session