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Converted-Out: The business entity converted to another type of business entity or to the same type under a different jurisdiction as provided by statute. The name of the new entity can be obtained by ordering a copy of the filed conversion document containing the name of the new entity, or by ordering a status report.
The Certificate of Conversion, also known as the Articles or Statement of Conversion, is the document that officially puts your business entity conversion into effect. This conversion document includes basic information about both your converting and converted entities.
A conversion is a filing that is made with the state of incorporation allowing a company to change from one business type to another.
Drafting the Plan of Conversion The plan of conversion should include the new entity's name and place of formation and the old entity's name. It should also include a statement that the LLC is continuing to exist as the corporation or vice versa.
For instance, consider some cases of conversion: ?No birds are bumblebees.? CONVERSION? ?No bumblebees are birds.? ? ?Some birds are flying creatures.? CONVERSION? ?Some flying creatures are birds.?