(805 ILCS 206/904)
Sec. 904. Effect of conversion; entity unchanged.
(a) A partnership or limited partnership that has been converted pursuant to this Article is for all purposes the same entity that existed before the conversion.
(b) When a conversion takes effect:
(1) all property owned by the converting partnership
or limited partnership remains vested in the converted entity;
(2) all obligations of the converting partnership or
limited partnership continue as obligations of the converted entity; and
(3) an action or proceeding pending against the
converting partnership or limited partnership may be continued as if the conversion had not occurred.
(Source: P.A. 92-740, eff. 1-1-03.)
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Last modified: February 18, 2015