§ 7-16-38 - Powers of estate of a member.
SECTION 7-16-38
§ 7-16-38 Powers of estate of a member.– (a) If a member who is an individual dies or a court of competent jurisdictionadjudges the member to be incompetent to manage the member's person orproperty, the member's executor, administrator, guardian, conservator or otherlegal representative may exercise all of the member's rights for the purpose ofsettling the estate or administering property, including any power under thearticles of organization or a written operating agreement permitting anassignee to become a member.
(b) If a member is a corporation, partnership, limitedpartnership, domestic or foreign limited liability company, trust, estate,association or other entity and is dissolved or terminated, the powers of thatmember may be exercised by its legal representative or successor.