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A. A 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 limited partnership remains vested in the resulting partnership; 2. All obligations of the converting limited partnership continue as obligations of the resulting partnership; and 3. An action or proceeding pending against the converting limited partnership may be continued as if the conversion had not occurred. 1996, c. 292 ; 2007, c. 292 .
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