2011 California Code
Corporations Code
TITLE 2.5. LIMITED LIABILITY COMPANIES [17000 - 17656]
CHAPTER 7. Interest in Limited Liability Company: Assignment of Interests
Section 17304
(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.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
