Partnerships

ORS 67.344
Action on plan of conversion


(1)

A plan of conversion shall be approved by each business entity that is a party to the conversion, as follows:

(a)

In the case of a partnership, by all of the partners, unless a lesser vote is provided in the partnership agreement; and

(b)

In the case of a business entity other than a partnership, as provided by the statutes governing that business entity.

(2)

After a conversion is approved, and at any time before articles of conversion are filed, the planned conversion may be abandoned, subject to any contractual rights:

(a)

By a partnership that planned to convert to another business entity, in accordance with the procedure set forth in the plan of conversion or, if none is set forth, by a vote of the partners; and

(b)

By a business entity other than a partnership that planned to convert to a partnership, in accordance with the procedure set forth in the plan of conversion or, if none is set forth, in the manner permitted by the statutes governing that business entity. [1999 c.362 §43]

Source

Last accessed
Jun. 26, 2021