(a) A domestic limited partnership may convert to a different type of entity under this section and §§ 61-3-1112 - 61-3-1115 by approving a plan of conversion. The plan must be in a record and contain: (1) The name of the converting limited partnership;(2) The name, jurisdiction of formation, and type of entity of the converted entity;(3) The manner of converting the interests in the converting limited partnership into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing;(4) The proposed public organic record of the converted entity if it will be a filing entity;(5) The private organic rules of the converted entity that are proposed to be in a record when the conversion is effective;(6) Any other terms and conditions of the conversion not otherwise set forth in the private organic rules of the converting limited partnership or the law of this state; and(7) Any other provision required by the law of this state or the partnership agreement of the converting limited partnership.(b) In addition to the requirements of subsection (a), a plan of conversion may contain any other provision not prohibited his state or the partnership agreement of the converting limited partnership.(b) In addition to the requirements of subsection (a), a plan of conversion may contain any other provision not prohibited by law.Added by 2017 Tenn. Acts, ch. 440, s 1, eff. 1/1/2018.
Tennessee Legal Code