New Mexico Statutes 54-2A-704. Power of estate of deceased partner
Current as of: 2023 | Check for updates
|
Other versions
If a partner dies, the deceased partner’s personal representative or other legal representative may exercise the rights of a transferee as provided in Section 702 [54- 2A-702 NMSA 1978] of the Uniform Revised Limited Partnership Act and, for the purposes of settling the estate, may exercise the rights of a current limited partner pursuant to Section 304 [54-2A-304 N.M. Stat. Ann.] of the Uniform Revised Limited Partnership Act.
Terms Used In New Mexico Statutes 54-2A-704
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.