2016 Kentucky Revised Statutes
CHAPTER 362 - PARTNERSHIPS
.485 Power of estate of deceased or incompetent partner.

Download as PDF 362.485 Power of estate of deceased or incompetent partner. If a partner who is an individual dies, or a court of competent jurisdiction adjudges a partner who is an individual to be incompetent to manage his person or his property, the partner's executor, administrator, guardian, 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, partnership, trust, or other entity and is dissolved or terminated, the powers of that partner may be exercised by its legal representative or successor. Effective: June 26, 2007 History: Repeal the prior repeal contained in 2006 Ky. Acts ch. 149, sec. 239, which was to have been effective January 1, 2008, 2007 Ky. Acts ch. 137, sec. 180, effective June 26, 2007. -- Repealed 2006 Ky. Acts ch. 149, sec. 239, effective January 1, 2008. -- Created 1988 Ky. Acts ch. 284, sec. 43, effective July 15, 1988.