338.847 Death of licensee; carrying on business; notice to department; sale of business.

261 words·~1 min read·/mi/chapter-338/338-847

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Sec. 27.

(1)Upon the death of a licensee, the business of the decedent may be carried on for a period of 90 days by any of the following:

(a)In the case of an individual licensee, the surviving spouse, or if there is none, the personal representative of the estate of the decedent.

(b)In the case of a partner, the surviving partners.

(c)In the case of an officer of a firm, company, association, limited liability company, or corporation, the officers.

(2)Within 10 days following the death of a licensee, the department shall be notified by a person described in subsection

(1)in writing. The notification shall state the name of the person legally authorized to carry on the business of the deceased.

(3)Upon the authorization of the department, the business may be carried on for a further period of time when necessary to complete any investigation or assist in any litigation pending at the death of the decedent.

(4)This section does not authorize the solicitation or acceptance of any business after the death of the decedent except as otherwise provided by this act.

(5)This section shall not be construed to restrict the sale of a professional investigator business if the vendee qualifies for a license under the provisions of this act.

History: 1965, Act 285, Imd. Eff. July 22, 1965 ;-- Am. 2002, Act 474 , Eff. Oct. 1, 2002 ;-- Am. 2008, Act 146 , Imd. Eff. May 28, 2008