59-1001. Management; bond. - Kansas Statutes

59-1001

Chapter 59.--PROBATE CODE Article 10.--PARTNERSHIP ESTATES

      59-1001.   Management; bond.The property of a partnership dissolved by the death of any of itsmembers shall be delivered to the surviving partner who may be disposed toundertake the management of it agreeably to the conditions of a bondwhich such partner shall give as provided by law. Upon the givingof such bond such partnershall with due diligence: (a) Close the affairs of the latepartnership; (b) applythe property of it toward the payment of the partnershipdebts; (c) render anaccount of all partnership affairs upon oath to the district court,whenever required by the court, including the propertyowned by the late firm and thedebts due thereto, as well as what may have been paid by the survivortoward the partnership debts and what may still be due and owing; and(d) within six months from the date ofdeath of the deceasedpartner, unless a longer time is allowed by the district court, pay to theexecutor or administrator the executor's oradministrator's proportion of the net proceeds of thepartnership estate.

      History:   L. 1939, ch. 180, § 76; L. 1972, ch. 215, §7; L. 1976, ch. 242, § 12;L. 1985, ch. 191, § 14; July 1.