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2020 Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 9 - Revised Uniform Limited Partnership Act
Article 7 - Partnership Interests
§ 14-9-705. Power of Legal Representative of Deceased or Incompetent Partner
Universal Citation: GA Code § 14-9-705 (2020)
- 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, 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.
- The estate of a deceased partner or the successor of a partner that is a dissolved or terminated corporation, trust, or other entity shall be liable for all of the partner's liabilities as a partner.
(Code 1981, §14-9-705, enacted by Ga. L. 1988, p. 1016, § 1.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 59A Am. Jur. 2d, Partnership, § 808 et seq.
C.J.S.- 68 C.J.S., Partnership, § 589.
ARTICLE 8 DISSOLUTION
Administrative Rules and Regulations.
- Cancellations, Revocations and Withdrawals, Official Compilation of the Rules and Regulations of the State of Georgia, Office of Secretary of State, Limited Partnerships, Commissioner of Corporations, Chapter 590-7-16.
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