Texas Business Organizations Code

§ 10.1025 — CONVERSION AND CONTINUANCE

BO § 10.1025Title 1. GENERAL PROVISIONS · Ch. 10. MERGERS, INTEREST EXCHANGES, CONVERSIONS, AND SALES OF ASSETS · Art. C. CONVERSIONS

Statute text

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(a)A converting entity may elect to continue its existence in its current organizational form and jurisdiction of formation in connection with the entity's:

(1)conversion under Section 10.101 as a domestic entity of one organizational form into a non-United States entity of the same organizational form; or

(2)conversion under Section 10.102 as a non-United States entity of one organizational form into a domestic entity of the same organizational form.

(b)The election permitted by Subsection (a) for the converting entity to continue its existence in its current organizational form and jurisdiction of formation must be:

(1)adopted and approved as part of the plan of conversion for the converting entity as required by Section 10.101(b) or 10.102(b), as applicable; and

(2)permitted by, or not prohibited by and inconsistent with, the laws of the applicable non-United States jurisdiction.

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Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 15, eff. September 1, 2009.