25.05.365 - Effect of conversion -- Entity unchanged. - Washington Statutes

Effect of conversion — Entity unchanged.

(1) A partnership or limited partnership that has been converted pursuant to this article is for all purposes the same entity that existed before the conversion.

     (2) When a conversion takes effect:

     (a) All property owned by the converting partnership or limited partnership remains vested in the converted entity;

     (b) All obligations of the converting partnership or limited partnership continue as obligations of the converted entity; and

     (c) An action or proceeding pending against the converting partnership or limited partnership may be continued as if the conversion had not occurred.

[1998 c 103 § 904.]