N.Y. Limited Liability Company Law § 608

Current through 2024 NY Law Chapters 1-50, 52-55, 57, 61-117
Section 608 - Powers of estate of a deceased or incompetent member

If a member who is a natural person dies or a court of competent jurisdiction adjudges him or her to be incompetent to manage his or her person or his or her property, the member's executor, administrator, guardian, conservator or other legal representative may exercise all of the member's rights for the purpose of settling his or her estate or administering his or her property, including any power under the operating agreement of an assignee to become a member. If a member is a corporation, trust or other entity and is dissolved or terminated, the powers of that member may be exercised by its legal representative or successor.

N.Y. Limited Liability Company Law Law § 608