2019 Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 9A - Alabama Limited Partnership Law.
Article 7 - Transferable Interests and Rights of Transferees and Creditors.
Section 10A-9A-7.04 - 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-9A-7.02; and
(3) for purposes of settling the estate, exercise the rights of a current limited partner under Section 10A-9A-3.04; 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 limited partner under Section 10A-9A-3.04.
(Act 2016-379, §1.)
