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IA SF2468
Bill
Status
3/12/2026
Primary Sponsor
Ways & Means
Click for details
AI Summary
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Amends Iowa Code Section 486A.901 to establish a comprehensive legal framework for converting domestic partnerships into other business entity types, including limited partnerships, LLCs, business corporations, nonprofit corporations, and business trusts.
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Defines key terms for conversion transactions, including "converted organization" (the resulting entity after conversion), "converting organization" (the original partnership that ceases to exist), and distinguishes between domestic and foreign organizations.
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Specifies organizational documents required for each entity type, such as partnership agreements for general partnerships, certificates of limited partnership, articles of incorporation for corporations, and certificates of organization for LLCs.
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Establishes that "domestic governing statute" encompasses multiple Iowa Code chapters: Chapter 486A (partnerships), Chapter 488 (limited partnerships), Chapter 489 (LLCs), Chapter 490 (business corporations), Chapter 504 (nonprofits), and Chapter 633A (business trusts).
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Provides for applicable filing fees associated with partnership conversion transactions with the Secretary of State.
Legislative Description
A bill for an act providing for the conversion of partnerships into other forms of domestic or foreign organizations, and providing for fees.(Formerly SF 2363, SSB 3160.)
Last Action
Committee report, approving bill. S.J. 563.
3/12/2026