Tennessee § 61-1-904 Effect of conversion

Tennessee Statutes

§ 61-1-904 — Effect of conversion

(a)A partnership or limited partnership that has been converted pursuant to this part 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.

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(a) A partnership or limited partnership that has been converted pursuant to this part 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.

Tennessee § 61-1-904 (Effect of conversion) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.