Legal Question in Business Law in Texas
Corporate Restructuring
What happens to the general partner (in this instance, an LLC) when a limited partnership is converted into an LLC?
Asked on 2/03/09, 5:18 pm
1 Answer from Attorneys
Doug McCullough
Phillips & Reiter
Re: Corporate Restructuring
Based on the information in your question, it appears that nothing happens to the general partner itself. However, the general partner's partnership is converted into a membership interest in an LLC.
Answered on 2/03/09, 5:23 pm
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