New Mexico § 53-19-61 Conversions and mergers; effect of conversion

New Mexico Statutes

§ 53-19-61 — Conversions and mergers; effect of conversion

New Mexico § 53-19-61

Ch. 53Corporations

Art. 19Limited Liability Companies

This text of New Mexico § 53-19-61 (Conversions and mergers; effect of conversion) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 53-19-61 (2026).

Text

A. A corporation, partnership, limited liability company or limited partnership that has been converted pursuant to Section 53-19-60 or 53-19-60.1 NMSA 1978 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 entity is vested in the converted entity;

(2)all debts, liabilities and other obligations of the converting entity continue as obligations of the converted entity;

(3)an action or proceeding pending by or against the converting entity may be continued as if the conversion had not occurred;

(4)except as prohibited by other law, all of the rights, privileges, immunities, powers and purposes of the converting entity are vested in the converted entity; and (5) except as otherwise provided in

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A. A corporation, partnership, limited liability company or limited partnership that has been converted pursuant to Section 53-19-60 or 53-19-60.1 NMSA 1978 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 entity is vested in the converted entity; (2) all debts, liabilities and other obligations of the converting entity continue as obligations of the converted entity; (3) an action or proceeding pending by or against the converting entity may be continued as if the conversion had not occurred; (4) except as prohibited by other law, all of the rights, privileges, immunities, powers and purposes of the converting entity are vested in the converted entity; and (5) except as otherwise provided in the agreement of conversion under Subsection C of Section 53-19-60 NMSA 1978, all of the owners of the converting entity continue as owners of the converted entity.