50-73.48 - Power of estate of deceased or incapacitated partner. - Virginia Statutes

§ 50-73.48. Power of estate of deceased or incapacitated partner.

If a partner who is an individual dies or a court of competent jurisdictionadjudges him to be incapacitated, the partner's executor, administrator,conservator, or other legal representative may exercise all the partner'srights for the purpose of settling his estate or administering his propertyincluding any power the partner had to give an assignee the right to become alimited partner. If a partner is a corporation, trust, or other entity and isdissolved or terminated, the powers of that partner may be exercised by itslegal representative or successor.

(1985, c. 607; 1997, c. 801.)