General Laws of Massachusetts - Chapter 109 Limited Partnership - Section 43 Death or incompetency of partner; power to settle estate or administer property

Section 43. 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, 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, trust, or other entity and is dissolved or terminated, the powers of that partner may be exercised by its legal representative or successor.

Section:  Previous  36  37  38  39  40  41  42  43  44  45  46  47  48  49  50  Next

Last modified: September 11, 2015