Okla. Stat. tit. 54, § 54-500-1105A
This is the official text of Okla. Stat. tit. 54, § 54-500-1105A, part of Oklahoma’s Stat. tit. 54, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 54,." Browse the sections below, each linked to its official government source.
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Effect of conversion
Official statutory text
EFFECT OF CONVERSION.
(a) An organization 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 organization remains
vested in the converted organization;
(2) all debts, liabilities, and other obligations of the
converting organization continue as obligations of the converted
organization;
(3) an action or proceeding pending by or against the
converting organization may be continued as if the conversion had
not occurred;
Oklahoma Statutes - Title 54. Partnership Page 145
(4) except as prohibited by other law, all of the rights,
privileges, immunities, powers, and purposes of the converting
organization remain vested in the converted organization;
(5) except as otherwise provided in the plan of conversion, the
terms and conditions of the plan of conversion take effect;
(6) except as otherwise agreed, the conversion does not
dissolve a converting limited partnership for the purposes of
Article 8 of this act; and
(7) the conversion does not authorize a converted organization
that is a foreign organization to transact business in this state.
(c) A converted organization that is a foreign organization
consents to the jurisdiction of the courts of this state to enforce
any obligation owed by the converting limited partnership, if before
the conversion the converting limited partnership was subject to
suit in this state on the obligation. A converted organization that
is a foreign organization and not authorized to transact business in
this state appoints the Secretary of State as its agent for service
of process for purposes of enforcing an obligation under this
subsection. Service on the Secretary of State under this subsection
is made in the same manner and with the same consequences as in
Section 17 of this act.
(a) An organization 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 organization remains
vested in the converted organization;
(2) all debts, liabilities, and other obligations of the
converting organization continue as obligations of the converted
organization;
(3) an action or proceeding pending by or against the
converting organization may be continued as if the conversion had
not occurred;
Oklahoma Statutes - Title 54. Partnership Page 145
(4) except as prohibited by other law, all of the rights,
privileges, immunities, powers, and purposes of the converting
organization remain vested in the converted organization;
(5) except as otherwise provided in the plan of conversion, the
terms and conditions of the plan of conversion take effect;
(6) except as otherwise agreed, the conversion does not
dissolve a converting limited partnership for the purposes of
Article 8 of this act; and
(7) the conversion does not authorize a converted organization
that is a foreign organization to transact business in this state.
(c) A converted organization that is a foreign organization
consents to the jurisdiction of the courts of this state to enforce
any obligation owed by the converting limited partnership, if before
the conversion the converting limited partnership was subject to
suit in this state on the obligation. A converted organization that
is a foreign organization and not authorized to transact business in
this state appoints the Secretary of State as its agent for service
of process for purposes of enforcing an obligation under this
subsection. Service on the Secretary of State under this subsection
is made in the same manner and with the same consequences as in
Section 17 of this act.
Status: in_force · Read it on the official government site
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