10534
Effective Jan 1, 2004Amended by Stats. 2003, Ch. 32, Sec. 11. Effective January 1, 2004.
- (a) Subject to the partnership agreement and the provisions of the Uniform Partnership Act of 1994 (Chapter 5 (commencing with Section 16100) of Title 2 of the Corporations Code), the personal representative has the power to continue as a general partner in any partnership in which the decedent was a general partner at the time of death.
(b) The personal representative has the power to continue operation of any of the following:
- (1) An unincorporated business or venture in which the decedent was engaged at the time of the decedent’s death.
- (2) An unincorporated business or venture which was wholly or partly owned by the decedent at the time of the decedent’s death.
- (c) Except as provided in subdivision (d), the personal representative may exercise the powers described in subdivisions (a) and (b) without giving notice of proposed action under Chapter 4 (commencing with Section 10580).
- (d) The personal representative shall comply with the requirements of Chapter 4 (commencing with Section 10580) if the personal representative continues as a general partner under subdivision (a), or continues the operation of any unincorporated business or venture under subdivision (b), for a period of more than six months from the date letters are first issued to a personal representative.