New Hampshire Revised Statutes 304-A:58 – Effect of Conversion; Entity Unchanged
Current as of: 2023 | Check for updates
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I. A partnership, limited partnership, or limited liability company that has been converted pursuant to N.H. Rev. Stat. § 304-A:56 or 304-A:57 is for all purposes the same entity that existed before the conversion.
II. When a conversion takes effect:
(a) All property owned by the converting partnership, limited partnership, or limited liability company remains vested in the converted entity;
(b) All obligations of the converting partnership, limited partnership, or limited liability company continue as obligations of the converted entity; and
(c) An action or proceeding pending against the converting partnership, limited partnership or limited liability company may be continued as if the conversion had not occurred.
II. When a conversion takes effect:
Terms Used In New Hampshire Revised Statutes 304-A:58
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(a) All property owned by the converting partnership, limited partnership, or limited liability company remains vested in the converted entity;
(b) All obligations of the converting partnership, limited partnership, or limited liability company continue as obligations of the converted entity; and
(c) An action or proceeding pending against the converting partnership, limited partnership or limited liability company may be continued as if the conversion had not occurred.