Unless the plan of conversion (discussed below) provides otherwise-which would be unusual-the rights, privileges, immunities, powers, and purposes of the out-of-state LLC remain in the Florida LLC. The LLC owes what it owed before the conversion, and the LLC’s creditors have the same rights that they had before the conversion. All debts, obligations, and other liabilities of the out-of-state LLC continue as debts, obligations, and other liabilities of the Florida LLC. There is no need to create deeds or other documents transferring property from one LLC to another. All property of the out-of-state LLC continues to be vested in the Florida LLC. 2 Florida LLC conversion has the following effects: The LLC is still the same LLC only the governing law changes. After the conversion, the LLC is governed by Florida law, without any interruption to business operations or LLC existence. Legal Effect of Florida LLC ConversionĬonverting an out-of-state LLC to a Florida LLC is a seamless process. For example, an LLC formed in another jurisdiction may want to choose to apply Florida law even if the owners do not live in Florida. LLC conversion can also be useful even if the owners do not plan to move to a new state. Having a Florida LLC allows the owners to use professionals that live in Florida and are familiar with Florida LLC law. LLC members that live in Florida often want to use Florida professionals-including accountants, attorneys, or contractors-to help with the business. If the LLC members relocate to Florida, moving the LLC to Florida avoids the need to file documents in the formation state.
If an LLC was formed in one state but does business in another, the LLC must keep up with two sets of registration requirements: The general requirements of the formation state and the registration requirements of the state where the LLC does business. For these members, Florida LLC conversion has two primary benefits: When one or more LLC members move to a different state, they often want to bring their LLC with them. 1 This article discusses the process of converting an out-of-state LLC to a Florida LLC. As long as conversion (sometimes called LLC domestication) is allowed by the other state, an out-of-state LLC may convert to a Florida LLC, and a Florida LLC may convert to an out-of-state LLC. The law of the prior state no longer governs the LLC.įlorida law allows conversions into an out of Florida. After the conversion process is complete, the LLC is treated as though it had been originally formed under Florida law. Conversion allows the LLC owners-called members-to change the governing law that applies to the LLC.
The process requires a series of customized legal documents to be created and filed in a specific sequence.įlorida law allows an LLC that was formed in another state to relocate to Florida through a process called conversion.
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