2013 New Jersey Revised Statutes
Title 42 - PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Section 42:2A-50 - Power of personal representative of deceased or incompetent person; representative or successor of corporation, trust or other entity
42:2A-50. Power of personal representative of deceased or incompetent person; representative or successor of corporation, trust or other entity
Power of personal representative of deceased or incompetent person; representative or successor of corporation, trust of other entity. If a partner who is an individual dies or a court of competent jurisdiction adjudges him to be incompetent to manage his person or his property, the partner's executor, administrator, guardian, conservator, or other legal representative may exercise all the partner's rights for the purpose of settling his estate or administering his property, including any power the partner had to give an assignee the right to become a limited partner. If a partner is a corporation, trust, or other entity and is dissolved or terminated, the powers of that partner may be exercised by its legal representative or successor.
L. 1983, c. 489, s. 49, eff. April 1, 1985.
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