17-76,115. Powers of estate of deceased or incompetent member .
17-76,115
17-76,115. Powers of estate of deceased or
incompetent member .
If a member who is an individual dies or a court
of competent jurisdiction adjudges
the member to be incompetent to manage the member's person or property,
the member's personal
representative shall have all of the rights of an assignee of the
member's interest, unless the
deceased or incompetent member is the only member of the limited liability
company, in which case
the member's personal representative shall have the right to participate
in the management of the
business and the affairs of the limited liability company as a member.
History: L. 1999, ch. 119, § 54; Jan. 1, 2000.