A. A limited partnership that has been converted pursuant to this article is for all purposes the same entity that existed before the conversion.\nB. When a conversion takes effect:\n1. All property owned by the converting limited partnership remains vested in the resulting partnership;\n2. All obligations of the converting limited partnership continue as obligations of the resulting partnership; and\n3. An action or proceeding pending against the converting limited partnership may be continued as if the conversion had not occurred.\n1996, c. 292; 2007, c. 631.
Virginia Legal Code