AK HB152

Amends AS 10.50.210 to allow membership in a limited liability company to pass to the individual member's estate upon death, unless the operating agreement provides otherwise.

Grants the personal representative of a deceased sole member's estate full rights and powers of membership, including all associated restrictions and liabilities.

Extends the same transfer provision to sole members adjudicated unable to manage their person or property due to incapacity, with their guardian or conservator assuming all member rights and responsibilities.

Replaces the term "incompetent" with "unable to manage...because of incapacity" throughout related statutes (AS 10.50.210 and AS 10.50.385).

Amends AS 10.50.385 to clarify that legal representatives of deceased or incapacitated members have assignee rights to the member's interest, except as provided in the new subsection 10.50.210(b), operating agreements, or with written member consent.