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Searching 2017-2018 Session

The Vermont Statutes Online

Title 11 : Corporations, Partnerships and Associations

Chapter 022 : PARTNERSHIPS

Subchapter 009 : CONVERSIONS AND MERGERS

(Cite as: 11 V.S.A. § 3284)
  • § 3284. Effect of conversion; entity unchanged

    (a) A partnership or limited partnership that has been converted pursuant to this subchapter 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. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)