Current with changes from the 2024 Legislative Session
Section 4A-213 - Effect of converting partnership to limited liability company(a) A general or limited partnership that has been converted to a limited liability company pursuant to § 4A-211 of this subtitle shall be deemed for all purposes the same entity that existed before the conversion.(b) When a conversion takes effect:(1) All property owned by the converting general or limited partnership or the converting proprietorship remains vested in the converted entity;(2) All obligations and liabilities of the converting general or limited partnership or the converting proprietorship remain vested in the converted entity; and(3) An action or proceeding pending against the converting general or limited partnership or the converting proprietorship may be continued as if the conversion had not occurred.(c) In the case of a limited partnership that has been converted pursuant to § 4A-211 of this subtitle, the articles of organization filed pursuant to § 4A-211(a) of this subtitle shall serve as a certificate of cancellation of the converting limited partnership.