Power of Personal Representative of Deceased Partner.

Checkout our iOS App for a better way to browser and research.

Section 10A-8A-5.04

Power of personal representative of deceased partner.

If a partner dies, the deceased partner's personal representative or other legal representative may:

(a) for the period of time that the deceased partner's personal representative or other legal representative holds the deceased partner's transferable interest:

(1) exercise the rights of a holder of transferable interests under this chapter;

(2) exercise the rights of a transferee under Section 10A-8A-5.02; and

(3) for purposes of settling the estate, exercise the rights of a current partner under Section 10A-8A-4.10; and

(b) for the period of time that the deceased partner's personal representative or other legal representative does not hold the deceased partner's transferable interest, for purposes of settling the estate, exercise the rights of a person dissociated as a partner under Section 10A-8A-4.10.

(Act 2018-125, §7.)


Download our app to see the most-to-date content.