(1) An organization other than a partnership may convert to a partnership, and a partnership may convert to another organization pursuant to this section and ss. 620.8913-620.8915 and a plan of conversion, if:
(a) The other organization’s governing law authorizes the conversion.
(b) The conversion is permitted by the law of the jurisdiction that enacted the governing law.
(c) The other organization complies with its governing law 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 money, interests in the converted organization, and other consideration.
(d) The organizational documents of the converted organization.
History.—s. 22, ch. 2005-267.