Pennsylvania § 3315 Incorporation of or formation of entity to operate estate's business

Pennsylvania Statutes

§ 3315 — Incorporation of or formation of entity to operate estate's business

Pennsylvania·Title 20 DECEDENTS, ESTATES AND FIDUCIARIES·Ch. 33 ADMINISTRATION AND PERSONAL REPRESENTATIVES·Subch. PERSONAL REPRESENTATIVES; POWERS,

After notice to all parties in interest, aided by the report of a master if necessary, and giving due regard to the provisions of the governing instrument and any other factor that the court deems relevant, the court may authorize the personal representative alone or jointly with others, to organize a corporation, or form a partnership, limited liability company or other entity, to carry on the business of the estate, whether the business was owned solely or with others, and may contribute for stock of the corporation, as capital, or for an interest in a partnership, limited liability company or other entity, all or part of the property of the estate which was invested in the business.

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After notice to all parties in interest, aided by the report of a master if necessary, and giving due regard to the provisions of the governing instrument and any other factor that the court deems relevant, the court may authorize the personal representative alone or jointly with others, to organize a corporation, or form a partnership, limited liability company or other entity, to carry on the business of the estate, whether the business was owned solely or with others, and may contribute for stock of the corporation, as capital, or for an interest in a partnership, limited liability company or other entity, all or part of the property of the estate which was invested in the business.

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