31 M.R.S. §1094: Effect of conversion

1. Same entity. A partnership that has been converted pursuant to this subchapter is for all purposes the same entity that existed before the conversion.

2. Effective date. When a conversion takes effect:

A. All property owned by the converting partnership remains vested in the converted entity;

B. All obligations of the converting partnership continue as obligations of the converted entity; and

C. An action or proceeding pending by or against the converting partnership may be continued as if the conversion had not occurred.