2011 California Code
Corporations Code
CHAPTER 7. Interest in Limited Liability Company: Assignment of Interests
Section 17304

CA Corp Code § 17304 (through 2012 Leg Sess) What's This?

(a) If a member who is an individual dies or is adjudged by a court of competent jurisdiction to be incompetent to manage the member s person or property, the member s executor, administrator, guardian, conservator, or other legal representative may exercise all of the member s rights for the purpose of settling the member s estate or administering the member s property, including any power the member had under the articles of organization or an operating agreement to give an assignee the right to become a member.

(b) If a member is a corporation, trust, or other entity and is dissolved or terminated, the powers of that member may be exercised by its legal representative or successor.

(Added by Stats. 1994, Ch. 1200, Sec. 27. Effective September 30, 1994.)

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