{"data":{"id":"us-nm/53-19-61","jurisdiction":"us-nm","citation":"53-19-61","heading":"Conversions and mergers; effect of conversion.","body":"A. A corporation, partnership, limited liability company or limited partnership that has been converted pursuant to Section 53-19-60 or 53-19-60.1 NMSA 1978 is for all purposes the same entity that existed before the conversion.\nB. When a conversion takes effect:\n(1) all property owned by the converting entity is vested in the converted entity;\n(2) all debts, liabilities and other obligations of the converting entity continue as obligations of the converted entity;\n(3) an action or proceeding pending by or against the converting entity may be continued as if the conversion had not occurred;\n(4) except as prohibited by other law, all of the rights, privileges, immunities, powers and purposes of the converting entity are vested in the converted entity; and\n(5) except as otherwise provided in the agreement of conversion under Subsection C of Section 53-19-60 NMSA 1978, all of the owners of the converting entity continue as owners of the converted entity.","path":["Chapter 53 - Corporations","ARTICLE 19 Limited Liability Companies"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18556/index.do","current_through":"2025-06-20","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"696f09124195def3563d5417a00249f6744e8b116a4fbf86bf7d4901a57544e6","source_id":"us-nm","stale":false,"prev":"us-nm/53-19-60.1","next":"us-nm/53-19-62"},"notice":"GroundRules: Original legal text. Not legal advice."}