- Alaska Statutes.
- Title 32. Partnership
- Chapter 6. Uniform Partnership Act
- Section 903. Conversion of Limited Partnership to Partnership.
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. Conversion of Partnership to Limited Partnership.
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. Effect of Conversion; Entity Unchanged.
AS 32.06.903. Conversion of Limited Partnership to Partnership.
- (a) A limited partnership may be converted to a partnership under this section.
- (b) Notwithstanding a provision to the contrary in a limited partnership agreement, the terms and conditions of a
conversion of a limited partnership to a partnership must be approved by all of the partners.
- (c) After the conversion is approved by the partners, the limited partnership shall cancel its certificate of limited
- (d) The conversion takes effect when the certificate of limited partnership is canceled.
- (e) A limited partner who becomes a general partner as a result of the conversion remains liable only as a limited partner
for an obligation incurred by the limited partnership before the conversion takes effect. The partner is liable as a
general partner for an obligation of the partnership incurred after the conversion takes effect.
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