State Codes and Statutes
Statutes > Minnesota > 321-323A > 323A > 323A_0904323A.0904 EFFECT OF CONVERSION; ENTITY UNCHANGED.
(a) A partnership or 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 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.
History:
1997 c 174 art 9 s 48
