New Hampshire Revised Statutes 304-C:105-a – Right of Legal Representatives of Certain Dissociated Members to Exercise Members’ Membership Rights
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I. Unless the operating agreement provides otherwise, and subject to N.H. Rev. Stat. § 304-C:153, upon the dissociation of a member under N.H. Rev. Stat. § 304-C:100, V because of the member’s death, the member’s executor, administrator, guardian, conservator, or other legal representative may exercise all of the membership rights held by the member immediately before the member’s death for the purpose of settling the member’s estate or administering the member’s property.
II. Unless the operating agreement provides otherwise, upon the dissociation of a member under N.H. Rev. Stat. § 304-C:100, VI because of a determination that the member is incapacitated, the member’s legal representative may, for a period of one year after the date of the determination, exercise all of the membership rights held by the member immediately before the date of the determination.
III. Unless the operating agreement provides otherwise, upon the dissociation of a member that is a corporation, trust, or other entity under N.H. Rev. Stat. § 304-C:101 because of the entity’s dissolution or termination, all of the membership rights held by the member immediately before the effective date of the dissolution or termination may be exercised by its legal representative or successor for the purposes of winding up its affairs.
II. Unless the operating agreement provides otherwise, upon the dissociation of a member under N.H. Rev. Stat. § 304-C:100, VI because of a determination that the member is incapacitated, the member’s legal representative may, for a period of one year after the date of the determination, exercise all of the membership rights held by the member immediately before the date of the determination.
Terms Used In New Hampshire Revised Statutes 304-C:105-a
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Executor: A male person named in a will to carry out the decedent
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
III. Unless the operating agreement provides otherwise, upon the dissociation of a member that is a corporation, trust, or other entity under N.H. Rev. Stat. § 304-C:101 because of the entity’s dissolution or termination, all of the membership rights held by the member immediately before the effective date of the dissolution or termination may be exercised by its legal representative or successor for the purposes of winding up its affairs.