(a) A plan of conversion of a domestic converting entity may be amended (1) in the same manner as the plan was approved, provided the plan does not otherwise specify the manner in which it may be amended; or (2) by the governors or interest holders of the entity in the manner provided in the plan, except an interest holder that was entitled to vote on or consent to approval of the conversion shall be entitled to vote on or consent to any amendment of the plan that shall change (A) the amount or kind of interests, securities, obligations, rights to acquire interests or securities, cash, or other property, or any combination thereof, to be received by any of the interest holders of the converting entity under the plan; (B) the public organic document or private organic rules of the converted entity that shall be in effect immediately after the conversion becomes effective, except for changes that do not require approval of the interest holders of the converted entity under its organic law or organic rules; or (C) any other terms or conditions of the plan, provided the change would adversely affect the interest holder in any material respect.
(b) After a plan of conversion has been approved by a domestic converting entity and before a certificate of conversion becomes effective, the plan may be abandoned (1) as provided in the plan; or (2) unless prohibited by the plan, in the same manner as the plan was approved.
(c) If a plan of conversion is abandoned after a certificate of conversion has been filed with the Secretary of the State but before the filing becomes effective, a certificate of abandonment, signed on behalf of the entity, shall be filed with the Secretary of the State before such time as the certificate of conversion becomes effective. The certificate of abandonment shall take effect upon its filing and the conversion shall be abandoned and shall not become effective. The certificate of abandonment shall contain (1) the name of the converting entity; (2) the date on which the certificate of conversion was filed; and (3) a statement that the conversion has been abandoned in accordance with this section.
(P.A. 11-241, S. 25.)
History: P.A. 11-241 effective January 1, 2014.
Structure Connecticut General Statutes
Chapter 616 - Entity Transactions
Section 34-600. - Definitions.
Section 34-601. - Relationship of chapter to other laws.
Section 34-602. - Required notice or approval.
Section 34-603. - Status of filings.
Section 34-604. - Nonexclusivity.
Section 34-605. - Reference to external facts.
Section 34-606. - Alternative means of approval of transactions.
Section 34-607. - Appraisal rights.
Section 34-608. - Excluded entities and transactions.
Section 34-611. - Merger authorized.
Section 34-612. - Plan of merger.
Section 34-613. - Approval of plan of merger.
Section 34-614. - Amendment or abandonment of plan of merger.
Section 34-615. - Certificate of merger; effective date.
Section 34-616. - Effect of merger.
Section 34-621. - Interest exchange authorized.
Section 34-622. - Plan of interest exchange.
Section 34-623. - Approval of interest exchange.
Section 34-624. - Amendment or abandonment of plan of interest exchange.
Section 34-625. - Certificate of interest exchange; effective date.
Section 34-626. - Effect of interest exchange.
Section 34-631. - Conversion authorized.
Section 34-632. - Plan of conversion.
Section 34-633. - Approval of plan of conversion.
Section 34-634. - Amendment or abandonment of plan of conversion.
Section 34-635. - Certificate of conversion; effective date.
Section 34-636. - Effect of conversion.
Section 34-641. - Domestication authorized.
Section 34-642. - Plan of domestication.
Section 34-643. - Approval of plan of domestication.
Section 34-644. - Amendment or abandonment of plan of domestication.
Section 34-645. - Statement of domestication; effective date.