2013 Maine Revised Statutes
TITLE 31: PARTNERSHIPS AND ASSOCIATIONS
Chapter 17: UNIFORM PARTNERSHIP ACT
31 §1094. Effect of conversion
Subchapter 9: CONVERSIONS AND MERGERS HEADING: PL 2005, C. 543, PT. A, §2 (NEW)
1094. Effect of conversion
1. Same entity. A partnership that has been converted pursuant to this subchapter is for all purposes the same entity that existed before the conversion.
[ 2005, c. 543, Pt. A, 2 (NEW) .]
2. Effective date. When a conversion takes effect:
A. All property owned by the converting partnership remains vested in the converted entity; [2005, c. 543, Pt. A, 2 (NEW).]
B. All obligations of the converting partnership continue as obligations of the converted entity; and [2005, c. 543, Pt. A, 2 (NEW).]
C. An action or proceeding pending by or against the converting partnership may be continued as if the conversion had not occurred. [2005, c. 543, Pt. A, 2 (NEW).]
[ 2005, c. 543, Pt. A, 2 (NEW) .]
SECTION HISTORY
2005, c. 543, A2 (NEW).
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