67-449. Effect of conversion; entity unchanged.
92 words·~1 min read·
/ne/chapter-67/67-449A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A partnership or limited partnership that has been converted pursuant to sections 67-446 to 67-453 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.