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Alabama Conversion of a Domestic Entity - LLP to LP

Category:
Alabama Secretary of State - Conversions
State:
Alabama
Control #:
AL-CONVERSIONS-021
Format:
PDF
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Description

Conversion of a Domestic Entity - LLP to LP Alabama Conversion of a Domestic Entity — LLP to LP is a procedure that allows a domestic limited liability partnership (LLP) to convert to a domestic limited partnership (LP) in the state of Alabama. This conversion process is governed by Alabama Code Title 10, Chapter 8A, and requires the filing of a statement of conversion with the Alabama Secretary of State along with other documents. The statement of conversion must include the name of the LLP, the name of the LP, and the date of conversion. Additionally, the statement must be signed by all partners of the LLP and be accompanied by a certificate of good standing from the LLP. The conversion is effective upon its filing with the Secretary of State. Types of Alabama Conversion of a Domestic Entity — LLP to LP include: 1. Traditional Conversion: A traditional conversion allows an LLP to convert to an LP while maintaining all existing assets and liabilities. 2. Asset Conversion: An asset conversion allows an LLP to convert to an LP while transferring all assets to a newly-formed LP while liabilities remain with the existing LLP. 3. Merger Conversion: A merger conversion allows an LLP to merge with a newly-formed LP, with the resulting entity being the LP. All assets and liabilities of the LLP transfer to the LP.

Alabama Conversion of a Domestic Entity — LLP to LP is a procedure that allows a domestic limited liability partnership (LLP) to convert to a domestic limited partnership (LP) in the state of Alabama. This conversion process is governed by Alabama Code Title 10, Chapter 8A, and requires the filing of a statement of conversion with the Alabama Secretary of State along with other documents. The statement of conversion must include the name of the LLP, the name of the LP, and the date of conversion. Additionally, the statement must be signed by all partners of the LLP and be accompanied by a certificate of good standing from the LLP. The conversion is effective upon its filing with the Secretary of State. Types of Alabama Conversion of a Domestic Entity — LLP to LP include: 1. Traditional Conversion: A traditional conversion allows an LLP to convert to an LP while maintaining all existing assets and liabilities. 2. Asset Conversion: An asset conversion allows an LLP to convert to an LP while transferring all assets to a newly-formed LP while liabilities remain with the existing LLP. 3. Merger Conversion: A merger conversion allows an LLP to merge with a newly-formed LP, with the resulting entity being the LP. All assets and liabilities of the LLP transfer to the LP.

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