1. 1. Same entity A partnership that has been converted pursuant to this subchapter is for all purposes the same entity that existed before the conversion.

   [PL 2005, c. 543, Pt. A, §2 (NEW).]

2. 2. Effective date When a conversion takes effect:

   1. A. All property owned by the converting partnership remains vested in the converted entity;

      [PL 2005, c. 543, Pt. A, §2 (NEW).]

   2. B. All obligations of the converting partnership continue as obligations of the converted entity; and

      [PL 2005, c. 543, Pt. A, §2 (NEW).]

   3. C. An action or proceeding pending by or against the converting partnership may be continued as if the conversion had not occurred.

      [PL 2005, c. 543, Pt. A, §2 (NEW).]

   [PL 2005, c. 543, Pt. A, §2 (NEW).]

PL 2005, c. 543, §A2 (NEW).