{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-722.11.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-722.11.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-722.11.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-722.11.html"}],"law_id":65437,"edition_id":1,"section_id":65437,"structure_id":15470,"section_number":"13.1-722.11","catch_line":"Action on plan of conversion","history":"2001, c. 545; 2002, c. 1; 2012, c. 130; 2016, c. 288; 2019, c. 734; 2020, c. 1226.","full_text":"A\n\nIn the case of a conversion of a domestic corporation to a domestic or foreign eligible entity, the plan of conversion shall be adopted in the following manner:1\n\nThe plan of conversion shall first be adopted by the board of directors.2\n\nAfter adopting the plan of conversion, the board of directors shall submit the plan to the shareholders for their approval. In submitting the plan of conversion to the shareholders for their approval, the board of directors shall recommend that the shareholders approve the plan unless the board of directors makes a determination that because of conflicts of interest or other special circumstances it should not make such a recommendation, in which case the board of directors shall inform the shareholders of the basis for that determination.3\n\nThe board of directors may set conditions for approval of the plan of conversion by the shareholders or the effectiveness of the plan of conversion.4\n\nIf the approval of the shareholders is to be sought at a shareholders meeting, the corporation shall notify each shareholder, regardless of whether entitled to vote, of the meeting of shareholders at which the plan of conversion is to be submitted for approval. The notice shall state that the purpose, or one of the purposes, of the meeting is to consider the plan of conversion and shall contain or be accompanied by a copy or summary of the plan. The notice must include or be accompanied by a copy of the organic rules of the converted entity, which are to be in writing as they will be in effect immediately after the conversion.5\n\nUnless the articles of incorporation or the board of directors acting pursuant to subdivision 3, requires a greater vote, approval of the plan of conversion requires (i) the approval of the shareholders at a meeting at which a quorum exists consisting of more than two thirds of the votes entitled to be cast on the plan and (ii) the approval of each class or series of shares voting as a separate voting group at a meeting at which a quorum of the voting group exists consisting of more than two thirds of the votes entitled to be cast on the plan by that voting group. The articles of incorporation may provide for a greater or lesser vote than that provided in this subsection or a vote by separate voting groups so long as the vote provided for is not less than a majority of all votes cast on the plan by each voting group entitled to vote on the plan at a meeting at which a quorum of the voting group exists.B\n\nIn the case of a conversion of a domestic eligible entity to a domestic corporation, the plan of conversion shall be adopted in accordance with subsection B of § 13.1-722.9.C\n\nIf as a result of the conversion one or more shareholders of the converting domestic corporation would become subject to interest holder liability, approval of the plan of conversion shall require the signing in connection with the transaction, by each such shareholder, of a separate written consent to become subject to such interest holder liability.","order_by":null,"text":{"0":{"id":237918,"text":"In the case of a conversion of a domestic corporation to a domestic or foreign eligible entity, the plan of conversion shall be adopted in the following manner:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":237919,"text":"The plan of conversion shall first be adopted by the board of directors.","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":237920,"text":"After adopting the plan of conversion, the board of directors shall submit the plan to the shareholders for their approval. In submitting the plan of conversion to the shareholders for their approval, the board of directors shall recommend that the shareholders approve the plan unless the board of directors makes a determination that because of conflicts of interest or other special circumstances it should not make such a recommendation, in which case the board of directors shall inform the shareholders of the basis for that determination.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":237921,"text":"The board of directors may set conditions for approval of the plan of conversion by the shareholders or the effectiveness of the plan of conversion.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":237922,"text":"If the approval of the shareholders is to be sought at a shareholders meeting, the corporation shall notify each shareholder, regardless of whether entitled to vote, of the meeting of shareholders at which the plan of conversion is to be submitted for approval. The notice shall state that the purpose, or one of the purposes, of the meeting is to consider the plan of conversion and shall contain or be accompanied by a copy or summary of the plan. The notice must include or be accompanied by a copy of the organic rules of the converted entity, which are to be in writing as they will be in effect immediately after the conversion.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":237923,"text":"Unless the articles of incorporation or the board of directors acting pursuant to subdivision 3, requires a greater vote, approval of the plan of conversion requires (i) the approval of the shareholders at a meeting at which a quorum exists consisting of more than two thirds of the votes entitled to be cast on the plan and (ii) the approval of each class or series of shares voting as a separate voting group at a meeting at which a quorum of the voting group exists consisting of more than two thirds of the votes entitled to be cast on the plan by that voting group. The articles of incorporation may provide for a greater or lesser vote than that provided in this subsection or a vote by separate voting groups so long as the vote provided for is not less than a majority of all votes cast on the plan by each voting group entitled to vote on the plan at a meeting at which a quorum of the voting group exists.","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"B"},"6":{"id":237924,"text":"In the case of a conversion of a domestic eligible entity to a domestic corporation, the plan of conversion shall be adopted in accordance with subsection B of § 13.1-722.9.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A5","next_prefix":"C"},"7":{"id":237925,"text":"If as a result of the conversion one or more shareholders of the converting domestic corporation would become subject to interest holder liability, approval of the plan of conversion shall require the signing in connection with the transaction, by each such shareholder, of a separate written consent to become subject to such interest holder liability.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":15470,"edition_id":1,"name":"Conversion","identifier":"12.2","label":"article","depth":3,"order_by":1,"parent_id":12983,"metadata":{},"date_created":"2026-06-26 03:55:17","date_modified":"2026-06-26 03:55:17","permalink":{"id":150433,"object_type":"structure","relational_id":15470,"identifier":"12.2","token":"13.1\/9\/12.2","url":"\/13.1\/9\/12.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12983,"edition_id":1,"name":"Virginia Stock Corporation Act","identifier":"9","label":"chapter","depth":2,"order_by":1,"parent_id":12744,"metadata":{},"date_created":"2026-06-26 03:44:06","date_modified":"2026-06-26 03:44:06","permalink":{"id":150163,"object_type":"structure","relational_id":12983,"identifier":"9","token":"13.1\/9","url":"\/13.1\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12744,"edition_id":1,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":147493,"object_type":"structure","relational_id":12744,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80556,"structure_id":15470,"section_number":"13.1-722.10","catch_line":"Plan of conversion","url":"\/13.1-722.10\/","token":"13.1\/9\/12.2\/13.1-722.10","metadata":false},{"id":65437,"structure_id":15470,"section_number":"13.1-722.11","catch_line":"Action on plan of conversion","url":"\/13.1-722.11\/","token":"13.1\/9\/12.2\/13.1-722.11","metadata":false},{"id":65609,"structure_id":15470,"section_number":"13.1-722.12","catch_line":"Articles of conversion; effectiveness","url":"\/13.1-722.12\/","token":"13.1\/9\/12.2\/13.1-722.12","metadata":false},{"id":58933,"structure_id":15470,"section_number":"13.1-722.12:1","catch_line":"Amendment of plan of conversion; abandonment","url":"\/13.1-722.12_1\/","token":"13.1\/9\/12.2\/13.1-722.12_1","metadata":false},{"id":78756,"structure_id":15470,"section_number":"13.1-722.13","catch_line":"Effect of conversion","url":"\/13.1-722.13\/","token":"13.1\/9\/12.2\/13.1-722.13","metadata":false},{"id":68085,"structure_id":15470,"section_number":"13.1-722.14","catch_line":"Repealed","url":"\/13.1-722.14\/","token":"13.1\/9\/12.2\/13.1-722.14","metadata":false},{"id":86100,"structure_id":15470,"section_number":"13.1-722.8","catch_line":"Definitions","url":"\/13.1-722.8\/","token":"13.1\/9\/12.2\/13.1-722.8","metadata":false},{"id":60436,"structure_id":15470,"section_number":"13.1-722.9","catch_line":"Conversion","url":"\/13.1-722.9\/","token":"13.1\/9\/12.2\/13.1-722.9","metadata":false}],"previous_section":{"id":80556,"structure_id":15470,"section_number":"13.1-722.10","catch_line":"Plan of conversion","url":"\/13.1-722.10\/","token":"13.1\/9\/12.2\/13.1-722.10","metadata":false},"next_section":{"id":65609,"structure_id":15470,"section_number":"13.1-722.12","catch_line":"Articles of conversion; effectiveness","url":"\/13.1-722.12\/","token":"13.1\/9\/12.2\/13.1-722.12","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-722.11\/","history_text":"

This law was first created in 2001. The record of its establishment is cataloged in chapter 545<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 5 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2002, chapter 1<\/a>; in 2012, chapter 130<\/a>; in 2016, chapter 288<\/a>; in 2019, chapter 734<\/a>; in 2020, chapter 1226<\/a>.<\/p>","references":[{"id":79230,"section_number":"13.1-604.1","catch_line":"Filings with the Commission pursuant to reorganization","order_by":null,"url":"\/13.1-604.1\/"},{"id":86100,"section_number":"13.1-722.8","catch_line":"Definitions","order_by":null,"url":"\/13.1-722.8\/"}],"refers_to":false,"permalink":{"id":150439,"object_type":"law","relational_id":65437,"identifier":"13.1-722.11","token":"13.1\/9\/12.2\/13.1-722.11","url":"\/13.1-722.11\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-722.11\/","token":"13.1\/9\/12.2\/13.1-722.11","dublin_core":{"Title":"Action on plan of conversion","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-722.11","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> In the case of a conversion<\/span> of a domestic corporation<\/span> to a domestic or foreign eligible entity<\/span>, the plan of conversion<\/span> shall be adopted in the following manner: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The plan of conversion<\/span> shall first be adopted by the board of directors. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> After adopting the plan of conversion<\/span>, the board of directors shall submit the plan to the shareholders<\/span> for their approval. In submitting the plan of conversion<\/span> to the shareholders<\/span> for their approval, the board of directors shall recommend that the shareholders<\/span> approve the plan unless the board of directors makes a determination that because of conflicts of interest<\/span> or other special circumstances it should not make such a recommendation, in which case the board of directors shall inform the shareholders<\/span> of the basis for that determination. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The board of directors may set conditions for approval of the plan of conversion<\/span> by the shareholders<\/span> or the effectiveness of the plan of conversion<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> If the approval of the shareholders<\/span> is to be sought at a shareholders<\/span> meeting, the corporation shall notify each shareholder<\/span>, regardless of whether entitled to vote, of the meeting of shareholders<\/span> at which the plan of conversion<\/span> is to be submitted for approval. The notice shall state<\/span> that the purpose, or one of the purposes, of the meeting is to consider the plan of conversion<\/span> and shall contain or be accompanied by a copy or summary of the plan. The notice must include or be accompanied by a copy of the organic rules<\/span> of the converted entity<\/span>, which are to be in writing<\/span> as they will be in effect immediately after the conversion<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Unless the articles of incorporation<\/span> or the board of directors acting pursuant to subdivision 3, requires a greater vote, approval of the plan of conversion<\/span> requires (i) the approval of the shareholders<\/span> at a meeting at which a quorum exists consisting of more than two thirds of the votes entitled to be cast on the plan and (ii) the approval of each class or series of shares<\/span> voting as a separate voting group<\/span> at a meeting at which a quorum of the voting group<\/span> exists consisting of more than two thirds of the votes entitled to be cast on the plan by that voting group<\/span>. The articles of incorporation<\/span> may provide for a greater or lesser vote than that provided in this subsection or a vote by separate voting groups<\/span> so long as the vote provided for is not less than a majority of all votes cast on the plan by each voting group<\/span> entitled to vote on the plan at a meeting at which a quorum of the voting group<\/span> exists. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> In the case of a conversion<\/span> of a domestic eligible entity<\/span> to a domestic corporation<\/span>, the plan of conversion<\/span> shall be adopted in accordance with subsection B of § 13.1-722.9<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If as a result of the conversion<\/span> one or more shareholders<\/span> of the converting domestic corporation<\/span> would become subject to interest holder<\/span> liability, approval of the plan of conversion<\/span> shall require the signing in connection with the transaction, by each such shareholder<\/span>, of a separate written<\/span> consent to become subject to such interest holder<\/span> liability. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nACTION ON PLAN OF CONVERSION (\u00a7 13.1-722.11)\n\nA. In the case of a conversion of a domestic corporation to a domestic or\nforeign eligible entity, the plan of conversion shall be adopted in the\nfollowing manner:\n\n 1. The plan of conversion shall first be adopted by the board of directors.\n\n 2. After adopting the plan of conversion, the board of directors shall submit\n the plan to the shareholders for their approval. In submitting the plan of\n conversion to the shareholders for their approval, the board of directors\n shall recommend that the shareholders approve the plan unless the board of\n directors makes a determination that because of conflicts of interest or other\n special circumstances it should not make such a recommendation, in which case\n the board of directors shall inform the shareholders of the basis for that\n determination.\n\n 3. The board of directors may set conditions for approval of the plan of\n conversion by the shareholders or the effectiveness of the plan of conversion.\n\n 4. If the approval of the shareholders is to be sought at a shareholders\n meeting, the corporation shall notify each shareholder, regardless of whether\n entitled to vote, of the meeting of shareholders at which the plan of\n conversion is to be submitted for approval. The notice shall state that the\n purpose, or one of the purposes, of the meeting is to consider the plan of\n conversion and shall contain or be accompanied by a copy or summary of the\n plan. The notice must include or be accompanied by a copy of the organic rules\n of the converted entity, which are to be in writing as they will be in effect\n immediately after the conversion.\n\n 5. Unless the articles of incorporation or the board of directors acting\n pursuant to subdivision 3, requires a greater vote, approval of the plan of\n conversion requires (i) the approval of the shareholders at a meeting at which\n a quorum exists consisting of more than two thirds of the votes entitled to be\n cast on the plan and (ii) the approval of each class or series of shares\n voting as a separate voting group at a meeting at which a quorum of the voting\n group exists consisting of more than two thirds of the votes entitled to be\n cast on the plan by that voting group. The articles of incorporation may\n provide for a greater or lesser vote than that provided in this subsection or\n a vote by separate voting groups so long as the vote provided for is not less\n than a majority of all votes cast on the plan by each voting group entitled to\n vote on the plan at a meeting at which a quorum of the voting group exists.\n\nB. In the case of a conversion of a domestic eligible entity to a domestic\ncorporation, the plan of conversion shall be adopted in accordance with\nsubsection B of § 13.1-722.9.\n\nC. If as a result of the conversion one or more shareholders of the converting\ndomestic corporation would become subject to interest holder liability, approval\nof the plan of conversion shall require the signing in connection with the\ntransaction, by each such shareholder, of a separate written consent to become\nsubject to such interest holder liability.\n\nHISTORY: 2001, c. 545; 2002, c. 1; 2012, c. 130; 2016, c. 288; 2019, c. 734;\n2020, c. 1226.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}