2016 New Jersey Revised Statutes
Title 42 - Partnerships And Partnership Associations
Section 42:2A-50 - Power Of Personal Representative Of Deceased Or Incapacitated Person; Representative Or Successor Of Corporation, Trust, Or Other Entity.
42:2A-50 Power of personal representative of deceased or incapacitated person; representative or successor of corporation, trust, or other entity.
42:2A-50. Power of personal representative of deceased or incapacitated person; representative or successor of corporation, trust, or other entity. If a partner who is an individual dies or a court of competent jurisdiction adjudges the partner to lack the mental capacity to manage the partner's person or property, the partner's executor, administrator, guardian, conservator, or other legal representative may exercise all the partner's rights for the purpose of settling the partner's estate or administering the partner's 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.
L.1983, c.489, s.49; amended 2013, c.103, s.112.
Disclaimer: These codes may not be the most recent version. New Jersey 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.
