California Corporations Code

§ 17710.02

CORP § 17710.02 Effective Jan 1, 2013Title 2.6 · Art. 10

Statute text

(a)A limited liability company may be converted into an other business entity or a foreign other business entity or a foreign limited liability company pursuant to this article if both of the following apply:

(1)Pursuant to a conversion into a domestic or foreign general partnership or limited partnership or into a foreign limited liability company, each of the members of the converting limited liability company receives a percentage interest in the profits and capital of the converted entity equal to that member’s percentage interest in profits and capital of the converting limited liability company as of the effective time of the conversion.

(2)Pursuant to a conversion into an other business entity or foreign other business entity not specified in paragraph (1), both of the following occur:

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Legislative history

Added by Stats. 2012, Ch. 419, Sec. 20. (SB 323) Effective January 1, 2013. Operative January 1, 2014, by Sec. 32 of Ch. 419.