(1)
(a) A domestic nonprofit corporation may convert to a domestic limited liability company subject to Title 48, Chapter 3a, Utah Revised Uniform Limited Liability Company Act, pursuant to Section 48-3a-1405, by complying with:
(i) this Subsection (1); and
(ii) Section 48-3a-1041.
(b) If a domestic nonprofit corporation converts to a domestic limited liability company in accordance with this Subsection (1), the articles of conversion or statement of conversion, as applicable, shall:
(i) comply with Sections 48-3a-1042 and 48-3a-1045; and
(ii) if the corporation has any members, provide for:
(A) the cancellation of any membership; or
(B) the conversion of any membership in the domestic nonprofit corporation to a membership interest in the domestic limited liability company.
(c) Before articles of conversion or statement of conversion may be filed with the division, the conversion shall be approved:
(i) in the manner provided for the articles of incorporation or bylaws of the domestic nonprofit corporation; or
(ii) if the articles of incorporation or bylaws of the domestic nonprofit corporation do not provide the method for approval:
(A) if the domestic nonprofit corporation has voting members, by all of the members of the domestic nonprofit corporation regardless of limitations or restrictions on the voting rights of the members; or
(B) if the nonprofit domestic corporation does not have voting members, by a majority of:
(I) the directors in office at the time the conversion is approved by the board of directors; or
(II) if directors have not been appointed or elected, the incorporators.
(2) A domestic limited liability company may convert to a domestic nonprofit corporation subject to this chapter by:
(a) filing articles of incorporation in accordance with this chapter; and
(b) complying with Section 48-3a-1041, pursuant to Section 48-3a-1405.
(3) Any conversion under this section may not result in a violation, directly or indirectly, of:
(a) Section 16-6a-1301; or
(b) any other provision of this chapter.