Section 35-14-902 - Excluded transactions(1) This part may not be used to effect a transaction that: (a) converts or domesticates a company organized on the mutual principle to one organized on the basis of share ownership;(b) converts or domesticates banks and trust companies regulated under Title 32, chapter 1;(c) converts or domesticates building and loan associations regulated under Title 32, chapter 2;(d) converts or domesticates credit unions regulated under Title 32, chapter 3; or(e) converts or domesticates insurance companies regulated under Title 33.(2) The conversion of a domestic corporation to a domestic benefit corporation is governed by Title 35, chapter 1, part 14, and not by this part.Added by Laws 2019, Ch. 271,Sec. 135, eff. 6/1/2020.