Revises law concerning partnerships, limited partnerships, and limited liability companies.

This New Jersey bill revises laws governing partnerships, limited partnerships, and limited liability companies (LLCs). It establishes a clear process for partnerships and limited partnerships to convert to or from other business entities (like corporations or LLCs), requiring partner approval and a certificate of conversion filed with the Division of Revenue. The bill also changes LLC naming rules to allow more flexibility with consent from existing name holders, removes the requirement for an LLC to have a member before formation, and shortens the deadline for filing claims against a dissolved LLC from 5 years to at least 6 months after dissolution notice is published.