Maine Articles of Entity Conversion by Domestic or Foreign Unincorporated Entity is a process in which an unincorporated entity in Maine, such as a limited liability company, partnership, or association, can convert into a corporation, limited partnership, or other entity. This process requires filing Articles of Entity Conversion with the Maine Secretary of State. Types of Maine Articles of Entity Conversion by Domestic or Foreign Unincorporated Entity include: 1. Conversion of a Domestic Unincorporated Entity to a Domestic Corporation 2. Conversion of a Domestic Unincorporated Entity to a Domestic Limited Partnership 3. Conversion of a Domestic Unincorporated Entity to a Domestic Nonprofit Corporation 4. Conversion of a Foreign Unincorporated Entity to a Domestic Corporation 5. Conversion of a Foreign Unincorporated Entity to a Domestic Limited Partnership 6. Conversion of a Foreign Unincorporated Entity to a Domestic Nonprofit Corporation.
Maine Articles of Entity Conversion by Domestic or Foreign Unincorporated Entity
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In a statutory conversion, all of the assets of the converting entity are vested in the converted entity by ?operation of law?. This means that the vesting happens automatically and without the converting entity having to transfer or deed the property to the converted entity.
To change your registered agent in Maine, you must complete and file a Statement of Change form with the Maine Secretary of State, Division of Corporations, UCC and Commissions. The Maine Statement of Change must be submitted by mail or in person and costs $35 to file.
Using such a conversion process to change corporation to LLC does not require you to dissolve your corporation. Instead, rather than your forming an LLC, the corporation is converted to an LLC. Additionally, corporate assets and liabilities are automatically transferred over to the new LLC.
A business entity conversion, or change in business form, is the legal process of converting an existing business entity from one legal form into another. Most of the time, a business will change from a less complex structure like a partnership to a more complex structure like a limited liability company.
For example, the owners may wish to change from a corporation to an LLC. This process of changing formal entity types is known as a ?conversion.? A conversion is a statutory transaction in which one type of business entity becomes a different type of business entity?such as an LLC becoming a Limited Partnership.
File your Maine amendment. You can file your documents by mail or in person at the Maine Secretary of State, Division of Corporations, UCC, and Commissions, 101 State House Station, Augusta, ME 04333-0101. Depending on your business setup, different fees will apply.
Statutory conversion ? In a conversion, a document is filed with the state filing office to change from one entity form to another. There is no need to form a new entity.
