Find Laws Find Lawyers Free Legal Forms USA State Laws

CONNECTICUT STATUTES AND CODES

Sec. 34-385. Conversion of partnership to limited partnership.

      Sec. 34-385. Conversion of partnership to limited partnership. (a) A partnership may be converted to a limited partnership pursuant to this section.

      (b) The terms and conditions of a conversion of a partnership to a limited partnership must be approved by all of the partners or by a number or percentage specified for conversion in the partnership agreement.

      (c) After the conversion is approved by the partners, the partnership shall file a certificate of limited partnership in the jurisdiction in which the limited partnership is to be formed. The certificate shall include: (1) A statement that the partnership was converted to a limited partnership from a partnership; (2) its former name; and (3) a statement of the number of votes cast by the partners for and against the conversion and, if the vote is less than unanimous, the number or percentage required to approve the conversion under the partnership agreement.

      (d) The conversion takes effect when the certificate of limited partnership is filed or at any later date specified in the certificate.

      (e) A general partner who becomes a limited partner as a result of the conversion remains liable as a general partner for an obligation incurred by the partnership before the conversion takes effect. If the other party to a transaction with the limited partnership reasonably believes when entering the transaction that the limited partner is a general partner, the limited partner is liable for an obligation incurred by the limited partnership within ninety days after the conversion takes effect. The limited partner's liability for all other obligations of the limited partnership incurred after the conversion takes effect is that of a limited partner as provided in sections 34-9 to 34-38r, inclusive.

      (P.A. 95-341, S. 47, 58.)

      History: P.A. 95-341 effective July 1, 1997.

Connecticut Forms by Issue

Connecticut Administration/Filing Fees Forms
Connecticut Consumer Forms
Connecticut Court Forms
> Civil (District)
> Registration
> Small Claims
Connecticut Divorce Forms
Connecticut Family Forms
Connecticut Fraud Forms
Connecticut Other Forms
Connecticut Publications Forms
Connecticut Real Estate Forms

Connecticut Law

Connecticut State Laws
    > Connecticut Child Support
    > Connecticut Gun Laws
    > Connecticut Statutes
Connecticut Court
    > Griswold v. Connecticut
Connecticut Agencies
    > Connecticut Department of Labor
    > Connecticut DMV
    > Connecticut Secretary of State

Connecticut Court Map

Tips