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2012 Vermont Statutes
Title 11 Corporations, Partnerships and Associations
Chapter 22 PARTNERSHIPS
§ 3284 Effect of conversion; entity unchanged
Universal Citation:
11 V.S.A. § 3284.
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§ 3284. Effect of conversion; entity unchanged
(a) A partnership or limited partnership that has been converted pursuant to this subchapter is for all purposes the same entity that existed before the conversion.
(b) When a conversion takes effect:
(1) all property owned by the converting partnership or limited partnership remains vested in the converted entity;
(2) all obligations of the converting partnership or limited partnership continue as obligations of the converted entity; and
(3) an action or proceeding pending against the converting partnership or limited partnership may be continued as if the conversion had not occurred. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)
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