{"data":{"id":"us-ky/krs-362.2-955","jurisdiction":"us-ky","citation":"KRS 362.2-955","heading":"Effect of conversion.","body":"(1) An organization that has been converted pursuant to KRS 362.2-951 to 362.2-963 is\nfor all purposes the same entity that existed before the conversion.\n(2) When a conversion takes effect:\n(a) All property and contract rights owned by, and all rights, privil eges, and\nimmunities of, the converting organization shall remain vested in the\nconverted organization without assignment, reversion, or impairment;\n(b) All obligations of the converting organization shall continue as obligations of\nthe converted organization;\n(c) An action or proceeding pending against the converting organization may be\ncontinued as if the conversion had not occurred, and the name of the\nconverted organization may be substituted in any pending action or\nproceeding for the name of the converting organization; and\n(d) Any written organization documents of the converted organization shall be\nbinding upon each person who becomes a partner or member in the converted\norganization.\n(3) A converted organization that is a foreign entity consents to the jurisdiction of the\ncourts of this Commonwealth to enforce any obligation owed by the converting\norganization if, before the conversion, the converting organization was subject to\nsuit in this Commonwealth on that obligation. A converted organization t hat is a\nforeign entity and not authorized to transact business in this Commonwealth\nappoints the Secretary of State as its agent for service of process for purposes of\nenforcing an obligation under this subsection. Service on the Secretary of State\nunder this subsection is made in the same manner and with the same consequences\nas in KRS 14A.9-060(4).\n(4) A person who becomes a general partner in a limited partnership that is not a\nlimited liability limited partnership as a result of a conversion shall be p ersonally\nliable as a general partner for only those obligations incurred by the limited\npartnership after the conversion takes effect.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41516","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:59Z","sha256":"86078aa2c8231d2313679c655a2de44cb1ce0a62b92db4d63a04424b3ee8c3a9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.2-954","next":"us-ky/krs-362.2-956"},"notice":"GroundRules: Original legal text. Not legal advice."}