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§ 31b-9-903 — West Virginia Law | CourtGPT
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  4. Chapter 31b - Uniform Limited Liability Company Act/
  5. Article 9 - Conversions and Mergers§31b-9-901. Definitions/
  6. § 31b-9-903
West Virginia Legal Code

§ 31b-9-903

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(a) A partnership or limited partnership that has been converted pursuant to this article is for all purposes the same entity that existed before the conversion.(b) When a conversion takes effect:(1) All property owned by the converting partnership or limited partnership vests in the limited liability company;(2) All debts, liabilities and other obligations of the converting partnership or limited partnership continue as obligations of the limited liability company;(3) An action or proceeding pending by or against the converting partnership or limited partnership may be continued as if the conversion had not occurred;(4) Except as prohibited by other law, all of the rights, privileges, immunities, powers and purposes of the converting partnership or limited partnership vest in the limited liability company; and(5) Except as otherwise provided in the agreement of conversion under section 9-902(c), all of the partners of the converting partnership continue as members of the limited liability company.