{"data":{"id":"us-ky/krs-272a.16-030","jurisdiction":"us-ky","citation":"KRS 272A.16-030","heading":"Effect of conversion.","body":"(1) A foreign entity that has been converted into a limited cooperative association is for\nall purposes the same entity that existed before the conversion but, after conversion,\nit is organized under this chapter and is subject to that law and other law as it\napplies thereto.\n(2) When a conversion takes effect:\n(a) All property owned by the converting entity remains vested in the converted\nentity;\n(b) All debts, liabilities, and other obligations of the converting entity continue as\nobligations of the converted entity;\n(c) An action or proceeding pending by or against the converting entity may be\ncontinued as if the conversion had not occurred;\n(d) Except as prohibited by other law, all the rights, privileges, immunities,\npowers, and purposes of the converting e ntity remain vested in the converted\nentity;\n(e) Except as otherwise provided in the plan of conversion, the terms and\nconditions of the plan of conversion take effect; and\n(f) Except as otherwise provided in the plan of conversion, the conversion does\nnot dissolve the converting entity.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41088","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:23Z","sha256":"48344d0e7d739d4aeb137346ce79941856387c0c6c7fdcabd7f605c6441ed1ef","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.16-020","next":"us-ky/krs-272a.16-040"},"notice":"GroundRules: Original legal text. Not legal advice."}