CT HB06497

Establishes comprehensive framework for mergers, interest exchanges, conversions, and domestications of Connecticut business entities, effective January 1, 2014

Allows domestic entities (corporations, partnerships, limited liability companies) to merge with other domestic or foreign entities; permits interest exchanges where one entity acquires classes or series of interests in another entity

Enables conversions of domestic entities to different types (e.g., partnership to LLC) and domestications allowing entities to change jurisdiction of organization while maintaining continuity

Restricts certain entity types from participating in these transactions, including nonprofit corporations, insurance companies, banks, credit unions, and entities formed under special acts

Repeals prior conversion provisions in partnership law (sections 34-199, 34-200, 34-385 to 34-387, and 34-391) and modifies professional service corporation and limited liability company merger rules to prevent cross-type mergers with unrelated professions