(a) Subject to Section 10A-5A-10.09, a plan of conversion must be consented to by all the members of a converting limited liability company.
(b) Subject to Section 10A-5A-10.09 and any contractual rights, after a conversion is approved, and at any time before a filing is made under Section 10A-5A-10.03, a converting limited liability company may amend the plan or abandon the planned conversion:
(1) as provided in the plan; and
(2) except as prohibited by the plan, by the same consent as was required to approve the plan.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 5A - Alabama Limited Liability Company Law of 2014.
Article 10 - Conversions and Mergers.
Section 10A-5A-10.01 - Conversion.
Section 10A-5A-10.02 - Action on Plan of Conversion by Converting Limited Liability Company.
Section 10A-5A-10.03 - Filings Required for Conversion; Effective Date.
Section 10A-5A-10.04 - Effect of Conversion.
Section 10A-5A-10.05 - Merger.
Section 10A-5A-10.06 - Action on Plan of Merger by Constituent Limited Liability Company.
Section 10A-5A-10.07 - Filings Required for Merger; Effective Date.
Section 10A-5A-10.08 - Effect of Merger.
Section 10A-5A-10.09 - Restrictions on Approval of Mergers and Conversions.