35-10-637. Effect of conversion -- entity unchanged.
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/mt/title-35/chapter-10/part-6/35-10-637·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
35-10-637 . Effect of conversion -- entity unchanged.
(1)A partnership or limited partnership that has been converted pursuant to 35-10-635 or 35-10-636 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.