HB691:

Business entities; conversion and domestication.

Bill Summary:

Business entities; conversion and domestication.
Provides that, for the purposes of the Virginia Nonstock Corporation
Act, the Virginia Limited Liability Act, and the Virginia Business
Trust Act, "entity conversion" has the same meaning as "conversion"
as defined in each respective act and that a certificate of entity
conversion is the same as a certificate of conversion. Additionally,
the bill provides that "incorporation surrender," "organization
surrender," and "trust surrender" have the same meaning as "domestication"
as defined in each such respective act and that a certificate of
incorporation surrender, certificate of organization surrender, and
a certificate of trust surrender are the same as a certificate of
domestication.