(1) A plan of conversion shall be approved as follows:
(a) In the case of a corporation, in the manner provided in ORS 60.487 for mergers; and
(b) In the case of a business entity other than a corporation, as provided by the statutes governing that business entity.
(2) After a conversion is approved, and at any time before articles of conversion are filed, the planned conversion may be abandoned, subject to any contractual rights:
(a) By a corporation, in the manner provided in ORS 60.487 (9); and
(b) By a business entity that planned to convert to a corporation, in accordance with the procedure set forth in the plan of conversion or, if none is set forth, in the manner permitted by the statutes governing that business entity.