§ 486A.904 — Effect of conversion — entity unchanged

Iowa § 486A.904

• Jurisdiction: Iowa
• Title XII: BUSINESS ENTITIES
• Ch. 486A: UNIFORM PARTNERSHIP ACT

Text

1. 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.
2. When a conversion takes effect all of the following apply:
a. Allpropertyownedbytheconvertingpartnershiporlimitedpartnershipremainsvested
in the converted entity.
b. All obligations of the converting partnership or limited partnership continue as
obligations of the converted entity.
c. An action or proceeding pending against the converting partnership or limited
partnership may be continued as if the conversion had not occurred.