Effect of conversion; entity unchanged
Va. Code Ann. § 50-73.127
in effectA. A limited partnership that has been converted pursuant to this article 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 limited partnership remains vested in the resulting partnership;
2. All obligations of the converting limited partnership continue as obligations of the resulting partnership; and
3. An action or proceeding pending against the converting limited partnership may be continued as if the conversion had not occurred.
1996, c. 292 ; 2007, c. 631 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/50-73.127/Fetched: 10/16/2026