2015 Nevada Revised Statutes
Chapter 143 - Powers and Duties of Personal Representatives
NRS 143.520 - Continuation of partnership or other business.
1. Subject to the partnership agreement and the applicable provisions of chapter 87 of NRS, the personal representative who has limited authority or full authority has the power to continue as a general partner in any partnership in which the decedent was a general partner at the time of death.
2. The personal representative who has limited authority or full authority has the power to continue operation of any of the following:
(a) An unincorporated business or joint venture in which the decedent was engaged at the time of the decedent’s death.
(b) An unincorporated business or joint venture which was wholly or partly owned by the decedent at the time of the decedent’s death.
3. Except as otherwise provided in subsection 4, the personal representative may exercise the powers described in subsections 1 and 2 without giving notice of the proposed action pursuant to NRS 143.700 to 143.760, inclusive.
4. The personal representative shall give notice of a proposed action pursuant to NRS 143.700 to 143.760, inclusive, if the personal representative continues as a general partner under subsection 1, or continues the operation of any unincorporated business or joint venture under subsection 2, for a period of more than 6 months after the date on which letters are first issued to a personal representative.
(Added to NRS by 2011, 1444)
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