N.D. Cent. Code § 10-19.1-104.1

Current through 2024 Legislative Session
Section 10-19.1-104.1 - Conversion
1. An organization other than a corporation may convert to a corporation, and a corporation may convert to another organization other than a general partnership as provided in this section and sections 10-19.1-104.2 through 10-19.1-104.6 and a plan of conversion, if:
a. The governing statute of the other organization authorizes the conversion;
b. The conversion is not prohibited by the law of the jurisdiction that enacted the governing statute; and
c. The other organization complies with its governing statute in effecting the conversion.
2. For the purposes of sections 10-19.1-104.1 through 10-19.1-104.6, unless the context otherwise requires:
a. "Act of the board" means action by the board as provided in section 10-19.1-46 whether:
(1) At a meeting of the board as provided in section 10-19.1-43; or
(2) By a written action of the board as provided in section 10-19.1-47.
b. "Act of the governing body" means action by the governing body of any organization, other than a domestic corporation, in the manner provided in the governing statute.
c. "Act of the owners" means action by the owners of an organization, other than a domestic corporation, in the manner provided in its governing statute.
d. "Act of the shareholders" means action by the shareholders as provided in section 10-19.1-74 whether:
(1) At a meeting of the shareholders as provided in sections 10-19.1-71 and 10-19.1-72; or
(2) By a written action of the shareholders as provided in section 10-19.1-75.
e. "Certificate of creation" means:
(1) A certificate of incorporation, if the converted organization is a corporation deemed to be incorporated under this chapter;
(2)A certificate of organization, if the converted organization is a limited liability company deemed to be organized under chapter 10-32.1;
(3) A certificate of limited partnership, if the converted organization is a limited partnership deemed to be formed under chapter 45-10.2;
(4) The filed registration of a limited liability partnership, if the converted organization is a limited liability partnership deemed to be established under chapter 45-22; or
(5) A certificate of limited liability limited partnership, if the converted organization is a limited liability limited partnership deemed to be formed under chapter 45-23.
f. "Date of origin" means the date on which:
(1) A corporation which is:
(a) The converting organization was incorporated; or
(b) The converted organization is deemed to be incorporated;
(2) A limited liability company which is:
(a) The converting organization was organized; or
(b) The converted organization is deemed to be organized;
(3) A general partnership that is the converting organization was formed;
(4) A limited partnership which is:
(a) The converting organization was formed; or
(b) The converted organization is deemed to be formed;
(5) A limited liability partnership which is:
(a) The converting organization was formed; or
(b) The converted organization is deemed to be formed; and
(6) A limited liability limited partnership which is:
(a) The converting organization was formed; or
(b) The converted organization is deemed to be formed.
g. "Filed registration" means the registration of a limited liability partnership which has been filed with the secretary of state.
h. "General partnership" means an organization formed under chapters 45-13 through 45-21.
i. "Organizational records" means for an organization which is:
(1) A corporation, its articles of incorporation and bylaws;
(2) A limited liability company, its articles of organization, operating agreement or bylaws, and any member-control agreement;
(3) A limited partnership, its partnership agreement;
(4) A limited liability partnership, its partnership agreement; or
(5) A limited liability limited partnership, its partnership agreement.

N.D.C.C. § 10-19.1-104.1

Amended by S.L. 2015 , ch. 87( HB 1136 ), § 11, eff. 7/1/2015.