{"data":{"id":"us-il/805-ilcs-415-203","jurisdiction":"us-il","citation":"805 ILCS 415/203","heading":"Approval of conversion.","body":"(a) A plan of conversion is not effective unless it has been approved:\n(1) by a domestic converting entity:\n(A) in accordance with the requirements, if any, in its organic rules for approval of a conversion;\n(B) if its organic rules do not provide for approval of a conversion, in accordance with the requirements, if any, in its organic law and organic rules for approval of:\n(i) in the case of an entity that is not a business corporation, a merger, as if the conversion were a merger; or\n(ii) in the case of a business corporation, a merger requiring approval by a vote of the interest holders of the business corporation, as if the conversion were that type of merger; or\n(C) if neither its organic law nor organic rules provide for approval of a conversion or a merger described in subparagraph (B)(ii), by all of the interest holders of the entity entitled to vote on or consent to any matter; and\n(2) in a record, by each interest holder of a domestic converting entity that will have interest holder liability for liabilities that arise after the conversion becomes effective.\n(b) A conversion of a foreign converting entity is not effective unless it is approved by the foreign entity in accordance with the law of the foreign entity's jurisdiction of organization.","path":["CHAPTER 805 BUSINESS ORGANIZATIONS","Entity Omnibus Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=3831\u0026ChapterID=65\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"4fe028332d1b555db84ede8750f8bea0c335ef5788190b4b2ceb24c80e553020","source_id":"us-il","stale":false,"prev":"us-il/805-ilcs-415-202","next":"us-il/805-ilcs-415-204"},"notice":"GroundRules: Original legal text. Not legal advice."}