§ 3283. Conversion of limited partnership to partnership
(a) A limited partnership may be converted to a partnership pursuant to this section.
(b) Notwithstanding a provision to the contrary in a limited partnership agreement, the terms and conditions of a conversion of a limited partnership to a partnership must be approved by all of the partners.
(c) After the conversion is approved by the partners, the limited partnership shall cancel its certificate of limited partnership.
(d) The conversion takes effect when the certificate of limited partnership is canceled.
(e) A limited partner who becomes a general partner as a result of the conversion remains liable only as a limited partner for an obligation incurred by the limited partnership before the conversion takes effect. Except as otherwise provided in section 3226 of this title, the partner is liable as a general partner for an obligation of the partnership incurred after the conversion takes effect. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)
Structure Vermont Statutes
Title 11 - Corporations, Partnerships and Associations
§ 3203. Effect of partnership agreement; nonwaivable provisions
§ 3204. Supplemental principles of law
§ 3205. Execution, filing, and recording of statements
§ 3207. Partnership subject to amendment or repeal of chapter
§ 3212. Formation of partnership
§ 3214. When property is partnership property
§ 3221. Partner agent of partnership
§ 3222. Transfer of partnership property
§ 3223. Statement of partnership authority
§ 3225. Partnership liable for partner’s actionable conduct
§ 3227. Actions by and against partnership and partners
§ 3228. Liability of purported partner
§ 3231. Partner’s rights and duties
§ 3233. Partner’s rights and duties with respect to information
§ 3234. General standards of partner’s conduct
§ 3235. Actions by partnership and partners
§ 3236. Continuation of partnership beyond definite term or particular undertaking
§ 3241. Partner not co-owner of partnership property
§ 3242. Partner’s transferable interest in partnership
§ 3243. Transfer of partner’s transferable interest
§ 3244. Partner’s transferable interest subject to charging order
§ 3251. Events causing partner’s dissociation
§ 3252. Partner’s power to dissociate; wrongful dissociation
§ 3253. Effect of partner’s dissociation
§ 3261. Purchase of dissociated partner’s interest
§ 3262. Dissociated partner’s power to bind and liability to partnership
§ 3263. Dissociated partner’s liability to other persons
§ 3264. Statement of dissociation
§ 3265. Continued use of partnership name
§ 3271. Events causing dissolution and winding up of partnership business
§ 3272. Partnership continues after dissolution
§ 3273. Right to wind up partnership business
§ 3274. Partner’s power to bind partnership after dissolution
§ 3275. Statement of dissolution
§ 3276. Partner’s liability to other partners after dissolution
§ 3277. Settlement of accounts and contributions among partners
§ 3282. Conversion of partnership to limited partnership
§ 3283. Conversion of limited partnership to partnership
§ 3284. Effect of conversion; entity unchanged
§ 3285. Merger of partnerships
§ 3291. Statement of qualification
§ 3301. Law governing foreign limited liability partnership
§ 3302. Statement of foreign qualification
§ 3303. Effect of failure to qualify
§ 3304. Activities not constituting transacting business
§ 3305. Action by Attorney General