CONVERSION OF A REGISTERED SERIES TO A PROTECTED SERIES.
Tex. BUS. ORGS Code § 101.627.
in effect(a) Upon compliance with Section 101.628 , a registered series of a domestic limited liability company may convert to a protected series of the domestic limited liability company by filing a certificate of conversion that complies with Section 101.631 with the secretary of state in accordance with and taking effect as a filing instrument as specified by Chapter 4 .
(b) Upon compliance with Section 101.628 , a protected series of a domestic limited liability company may convert to a registered series of the domestic limited liability company by filing simultaneously with the secretary of state in accordance with, and taking effect as a filing instrument as specified by, Chapter 4 :
(1) a certificate of conversion that complies with Section 101.631 ; and
(2) a certificate of registered series as provided by Section 101.623 .
(c) An existing registered series may not become a protected series except as provided by Subsection (a) and Sections 101.628 through 101.632 .
(d) For purposes of this section and Sections 101.628 through 101.632 :
(1) "Conversion" means the continuation of:
(A) a registered series as a protected series; or
(B) a protected series as a registered series.
(2) "Converted series" means a registered series or protected series resulting from a conversion of, respectively, a protected series or registered series, of a domestic limited liability company.
(3) "Converting series" means a registered series or protected series before a conversion of that series.
(4) "Plan of conversion" means a document that conforms with the requirements of Section 101.628 .
Added by Acts 2021, 87th Leg., R.S., Ch. 43 (S.B. 1523 ), Sec. 1, eff. June 1, 2022.