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California Law (Last Updated: March 4, 2014) |
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Probate Code - PROB |
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Division 7. ADMINISTRATION OF ESTATES OF DECEDENTS |
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Part 6. INDEPENDENT ADMINISTRATION OF ESTATES |
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Chapter 3. Administration Under Independent Administration Authority |
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ARTICLE 3. Powers the Exercise of Which Requires Giving of Notice of Proposed Action Under Some Circumstances |
Section 10534.
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(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.