Maine § 1432. - Conversion
Full text of Maine Maine Revised Statutes § 1432. — Conversion, with citation guidance and answers to common questions.
§ 1432.. Conversion
1. Conversion to or from limited partnership. An organization other than a limited partnership may convert to a limited partnership and a limited partnership may convert to another organization pursuant to this section and sections 1433 to 1435 and a plan of conversion if:
A. The other organization's governing statute authorizes the conversion; [PL 2005, c. 543, Pt. C, §2 (NEW).]
B. The conversion is not prohibited by the law of the jurisdiction that enacted the governing statute; and [PL 2005, c. 543, Pt. C, §2 (NEW).]
C. The other organization complies with its governing statute in effecting the conversion. [PL 2005, c. 543, Pt. C, §2 (NEW).]
2. Plan of conversion. A plan of conversion must be in a record and must include:
A. The name and form of the organization before conversion; [PL 2005, c. 543, Pt. C, §2 (NEW).]
B. The name and form of the organization after conversion; [PL 2005, c. 543, Pt. C, §2 (NEW).]
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; and [PL 2005, c. 543, Pt. C, §2 (NEW).]
D. The organizational documents of the converted organization. [PL 2005, c. 543, Pt. C, §2 (NEW).]
Frequently Asked Questions About Maine § 1432.
What does Maine Revised Statutes § 1432. cover?
Section 1432. ("Conversion") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 1432.?
A common citation format is "Maine Revised Statutes § 1432." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 1432. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.