§ 13.1-1010.2. Effect of conversion; entity unchanged
A. A general or limited partnership that has been converted pursuant to § 13.1-1010.1 shall be deemed for all purposes the same entity that existed before the conversion.
B. When a conversion takes effect:
1. All property owned by the converting general or limited partnership remains vested in the converted entity;
2. All obligations of the converting general or limited partnership continue as obligations of the converted entity; and
3. An action or proceeding pending against the converting general or limited partnership may be continued as if the conversion had not occurred.
C. In the case of a domestic limited partnership that has been converted pursuant to § 13.1-1010.1, the articles of organization filed pursuant to § 13.1-1010.1 shall serve as a certificate of cancellation of the converting limited partnership, and in the case of a domestic partnership that has been converted pursuant to § 13.1-1010.1, the articles of organization filed pursuant to § 13.1-1010.1 shall, if applicable, serve as a statement of dissolution and a statement of cancellation of registration of the domestic partnership.
(1993, c. 113; 1997, c. 190.)
Sections: Previous 13.1-1005 13.1-1006 13.1-1007 13.1-1008 13.1-1009 13.1-1010 13.1-1010.1 13.1-1010.2 13.1-1010.3 13.1-1010.4 13.1-1011 13.1-1011.1 13.1-1012 13.1-1013 13.1-1014 NextLast modified: April 16, 2009