Vermont § 1602 - Conversion
Full text of Vermont Vermont Statutes Online § 1602 — Conversion, with citation guidance and answers to common questions.
§ 1602. Conversion
- (a) An entity that is not a mutual benefit enterprise may convert to a mutual benefit
enterprise and a mutual benefit enterprise may convert to an entity that is not a
mutual benefit enterprise pursuant to this section, sections 1603 through 1605 of this title, and a plan of conversion, if: (1) the other entity’s organic law authorizes the conversion; (2) the conversion is not prohibited by the law of the jurisdiction that enacted the other
entity’s organic law; and (3) the other entity complies with its organic law in effecting the conversion. (b) A plan of conversion shall be in a record and shall include: (1) the name and form of the entity before conversion; (2) the name and form of the entity after conversion; (3) the terms and conditions of the conversion, including the manner and basis for converting
interests in the converting entity into any combination of money, interests in the
converted entity, and other consideration; and (4) the organizational documents of the proposed converted entity. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Frequently Asked Questions About Vermont § 1602
What does Vermont Statutes Online § 1602 cover?
Section 1602 ("Conversion") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 1602?
A common citation format is "Vermont Statutes Online § 1602" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 1602 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.