South Carolina Statutes
§ 33-42-2130 — Effect of merger; service of process; liability for partnership obligations.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 42 UNIFORM LIMITED PARTNERSHIP ACT
(a)When a merger takes effect:
(1)the separate existence of each limited partnership or other entity that is a party to the merger, other than the surviving entity, terminates;
(2)all property owned by each of the limited partnerships and other entities that are party to the merger vests in the surviving entity;
(3)all debts, liabilities, and other obligations of each limited partnership or other entity that is party to the merger become the obligations of the surviving entity;
(4)an action or proceeding pending by or against a limited partnership or other party to a merger may be continued as if the merger had not occurred or the surviving entity may be substituted as a party to the action or proceeding; and (5) except as prohibited by other law, all the rights, privileges, immunitie
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South Carolina § 33-42-2130 (Effect of merger; service of process; liability for partnership obligations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2004 Act No. 221, SECTION 3.
Nearby Sections
15
§ 33-42-10
Short title.§ 33-42-1010
Interim distributions.§ 33-42-1020
Withdrawal of general partner.§ 33-42-1030
Withdrawal of limited partner.§ 33-42-1040
Distribution upon withdrawal.§ 33-42-1050
Distribution in kind.§ 33-42-1060
Right to distribution.§ 33-42-1070
Limitations on distribution.§ 33-42-1080
Liability upon return of contribution.§ 33-42-1210
Nature of partnership interest.§ 33-42-1220
Assignment of partnership interest.§ 33-42-1230
Rights of creditor.§ 33-42-1240
Right of assignee to become limited partner.§ 33-42-1410
Nonjudicial dissolution.