§ 65 — Conversion

A limited worker cooperative association may convert into any form of entity permitted if the board of managers or managing members of the limited worker cooperative association adopts a plan of conversion and the assembly adopts such a plan by a two-thirds majority vote. In the case of a collective worker cooperative, a limited worker cooperative association may convert into any form of entity permitted if the members adopt a plan by a two-thirds majority vote. Conversions from other forms of entities to a limited worker cooperative association are governed by the Entity Omnibus Act.

Legislative History

(Source: P.A. 101-292, eff. 1-1-20; 102-351, eff. 8-13-21.)