§ 50-73.127 Effect of conversion; entity unchanged
A. A limited partnership that has been converted pursuant to this article is for all purposes the same entity that existed before the conversion.
1. All property owned by the converting limited partnership remains vested in the resulting partnership;
2. All obligations of the converting limited partnership continue as obligations of the resulting partnership; and
3. An action or proceeding pending against the converting limited partnership may be continued as if the conversion had not occurred.
History
This law was first created in 1996. The record of its establishment is cataloged in chapter 292 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2007, chapter 631.
1996, c. 292; 2007, c. 631.