New NJ Law Creates Flexibility for Corporate Conversion

Veronica Montagna, Alan Kornstein, and Matthew Windman discuss New Jersey’s new law S.B. 142. The bill amends and supplements the New Jersey Business Corporation Act to provide procedures for (1) conversions, or the process of converting one type of entity to another type of entity, and (2) domestications, or the process of converting a foreign — i.e., out-of-state — entity to a domestic, i.e., New Jersey, entity or vice versa, without changing the type of entity.