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IA SSB3160
SB
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 the conversion process, distinguishing between "converting organization" (the original partnership that ceases to exist) and "converted organization" (the new entity that continues after conversion).
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Covers conversions to both domestic organizations (governed by Iowa statutes) and foreign organizations (governed by laws of other jurisdictions).
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Specifies the organizational documents required for each entity type, such as partnership agreements, certificates of organization, articles of incorporation, and operating agreements.
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Establishes associated filing fees for 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.(See SF 2363, SF 2468.)
Last Action
Committee report approving bill, renumbered as SF 2363.
2/17/2026