§ 25.05.365. Effect of conversion -- Entity unchanged
(1) 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.
(2) When a conversion takes effect:
(a) All property owned by the converting partnership or limited partnership remains vested in the converted entity;
(b) All obligations of the converting partnership or limited partnership continue as obligations of the converted entity; and
(c) An action or proceeding pending against the converting partnership or limited partnership may be continued as if the conversion had not occurred.
[1998 c 103 § 904.]
Sections: Previous 25.05.315 25.05.320 25.05.325 25.05.330 25.05.350 25.05.355 25.05.360 25.05.365 25.05.370 25.05.375 25.05.380 25.05.385 25.05.390 25.05.395 25.05.420 NextLast modified: April 7, 2009