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2018 Georgia Code 14-9-705 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 14-9-705 Case Law from Google Scholar Amendments to OCGA 14-9-705

TITLE 14 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Section 9. Revised Uniform Limited Partnership Act, 14-9-100 through 14-9-1204.

ARTICLE 7 PARTNERSHIP INTERESTS

14-9-705. Power of legal representative of deceased or incompetent partner.

  1. If a partner who is an individual dies or a court of competent jurisdiction adjudges him to be incompetent to manage his person or his property, the partner's executor, administrator, conservator, or other legal representative may exercise all the partner's rights for the purpose of settling his estate or administering his property, including any power the partner had to give an assignee 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 that partner may be exercised by its legal representative or successor.
  2. The estate of a deceased partner or the successor of a partner that is a dissolved or terminated corporation, trust, or other entity shall be liable for all of the partner's liabilities as a partner.

(Code 1981, §14-9-705, enacted by Ga. L. 1988, p. 1016, § 1.)

COMMENT

Note to Georgia Revised Uniform Limited Partnership Act This section provides for succession to the rights, powers and liabilities of a deceased partner.

Prior Georgia Law Section 14-9A-51, which applies only to deceased partners, is similar except that it refers to partners instead of only limited partners, as well as to partners that are not individuals.

Comparison With Official RULPA Subsection (b), which is not in the official version, is based on prior Section 14-9A-51, with the differences noted in Prior Georgia Law , above.

Cross-References Events causing person to cease to be a partner: § 14-9-602. Right of withdrawing partner to receive distribution: § 14-9-604. Dissolution on withdrawal of general partner: § 14-9-801(3). Distribution on dissolution of partnership: § 14-9-804.

RESEARCH REFERENCES

Am. Jur. 2d.

- 59A Am. Jur. 2d, Partnership, § 808 et seq.

C.J.S.

- 68 C.J.S., Partnership, § 589.

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