Texas Business Organizations Code

§ 10.106 — GENERAL EFFECT OF CONVERSION

BO § 10.106Title 1. GENERAL PROVISIONS · Ch. 10. MERGERS, INTEREST EXCHANGES, CONVERSIONS, AND SALES OF ASSETS · Art. C. CONVERSIONS

Statute text

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When a conversion takes effect:

(1)the converting entity continues to exist without interruption in the organizational form of the converted entity rather than in the organizational form of the converting entity;

(2)all rights, title, and interests to all property owned by the converting entity continues to be owned, subject to any existing liens or other encumbrances on the property, by the converted entity in the new organizational form without:

(A)reversion or impairment;

(B)further act or deed; or

(C)any transfer or assignment having occurred;

…

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.