Sec. 34-387. Effect of conversion. - Connecticut Statutes

      Sec. 34-387. Effect of conversion. (a) A partnership or limited partnership that has been converted pursuant to sections 34-384 to 34-391, inclusive, 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.

      (P.A. 95-341, S. 49, 58.)

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