State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_59 > GS_59-705

§59‑705.  Power of estate of deceased or incompetent partner.

If a partner who is anindividual dies or a court of competent jurisdiction adjudges him to beincompetent to manage his person or his property, the partner's executor,administrator, guardian, conservator, or other legal representative mayexercise all of the partner's rights for the purpose of settling his estate oradministering his property, including any power the partner had to give anassignee 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 thatpartner may be exercised by its legal representative or successor. (1985(Reg. Sess., 1986), c. 989, s. 2.)