Maine Revised Statutes
Subchapter 9: CONVERSIONS AND MERGERS
31 §1094. Effect of conversion

§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.  
[PL 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;   [PL 2005, c. 543, Pt. A, §2 (NEW).]
B. All obligations of the converting partnership continue as obligations of the converted entity; and   [PL 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.   [PL 2005, c. 543, Pt. A, §2 (NEW).]
[PL 2005, c. 543, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 543, §A2 (NEW).

Structure Maine Revised Statutes