                                 CODE OF VIRGINIA

EFFECT OF CONVERSION; ENTITY UNCHANGED (§ 50-73.127)

A. A limited partnership that has been converted pursuant to this article 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 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: 1996, c. 292; 2007, c. 631.