CCP 3224.1 - Continuation of corporation or partnership in which decedent held a majority interest - Louisiana Statutes

Art. 3224.1. Continuation of corporation or partnership in which decedent held a majority interest

A. The succession representative of an estate owning a majority interest in a corporation or partnership shall provide notice as provided in Articles 3272 and 3282 prior to alienating, encumbering, or disposing of any real property of a corporation or partnership in which the decedent held a majority interest at the time of his death. The notification required herein shall be by certified mail to the last known address of the heirs or legatees. The heirs and legatees may waive this notification.

B. Upon motion by an heir or legatee, and contradictory hearing thereon, the court may require that a succession representative of an estate owning a majority interest in a corporation or partnership seek court approval prior to alienating, encumbering, or disposing of any or all of the real property belonging to the corporation or partnership.

Acts 1992, No. 999, §1.