The New Jersey State Bar Association supports A4341 (Freiman)/S142 (Diegnan), which modernizes business filing statutes to include entity conversion and domestication.
The Association supports this proposed legislation which would modify applicable business filing statutes in the New Jersey Business Corporation Act to add domestication and conversion provisions across all business entity types. This proposed legislation will align New Jersey with many other states that allow entity conversion and domestication, which will ultimately be a positive measure in making New Jersey a more business-friendly State.
For the reasons set forth above, the New Jersey State Bar Association supports A4341/S142 and urges you to vote yes to this proposed legislation.