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Conversion
Conversion
Is your castle protected?
"Attorney Chris Hansen practices preventative law and can show you how to protect your valuable assets. Please see Our Philosophy for more details."
Areas of Practice
Business
Estate Planning
Law Offices of Chris Hansen, APC
La Mesa probate attorney, La Mesa corporate attorney, La Mesa business attorney, La Mesa trust attorney.
7840 El Cajon Blvd, La Mesa, CA 91942
619-469-2667 or chris@inclaw.com
619-469-2667 or chris@inclaw.com
The conversion process enables a general partnership, limited partnership, corporation, or LLC to change its legal structure while not changing property ownership, contract rights and obligations, or relationships with creditors and debtors. In general, conversions from California or foreign other business entities to a California LLC are permissible if:
The laws under which the converted business entity will exist expressly permit the formation of that entity by conversion;
The plan of conversion is approved by the requisite number of shareholders, partners, or members of the converting business entity;
No economic dilution occurs to any shareholder, partner, or member of the converting business entity; and
The requisite filings are made with the California Secretary of State and other foreign appropriate authorities, if applicable.
The laws under which the converted business entity will exist expressly permit the formation of that entity by conversion;
The plan of conversion is approved by the requisite number of shareholders, partners, or members of the converting business entity;
No economic dilution occurs to any shareholder, partner, or member of the converting business entity; and
The requisite filings are made with the California Secretary of State and other foreign appropriate authorities, if applicable.