The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
007
:
ASSIGNMENT OF PARTNERSHIP INTERESTS
(Cite as: 11 V.S.A. § 3465)
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§ 3465. Power of estate of deceased or partner who is incompetent
If a partner who is an individual 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
partner’s executor, administrator, guardian, conservator, or other legal representative
may exercise all of the partner’s rights for the purpose of settling his or her estate
or administering his or her property, including any power the partner had to give
an assignee the right to become a limited partner. If a partner is a corporation,
trust, or other entity and is dissolved or terminated, the powers of that partner
may be exercised by its legal representative or successor. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999; amended 2013, No. 96 (Adj. Sess.), § 41.)