2018 Code of Alabama
Title 10A - ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE.
Chapter 5A - LIMITED LIABILITY COMPANIES.
Article 5 - Transferable Interests and Rights of Transferees and Creditors.
Section 10A-5A-5.04 - Power of personal representative of deceased member.
If a member dies, the deceased member's personal representative or other legal representative may:
(a) for the period of time that the deceased member's personal representative or other legal representative holds the deceased member'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-5A-5.02; and
(3) for purposes of settling the estate, exercise the rights of a current member under Section 10A-5A-4.09; and
(b) for the period of time that the deceased member's personal representative or other legal representative does not hold the deceased member's transferable interest, for purposes of settling the estate, exercise the rights of a dissociated member under Section 10A-9A-4.09.
(Act 2014-144, p. 265, §1; Act 2016-379, §4.)
