2006 Kentucky Revised Statutes - .230   Liability of incoming partner.  (Effective until January 1, 2008)

362.230 Liability of incoming partner. (Effective until January 1, 2008) A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that the liability shall be satisfied only out of partnership property. Effective: June 17, 1954 History: Repealed 2006 Ky. Acts ch. 149, sec. 239, effective January 1, 2008. -- Created 1954 Ky. Acts ch. 38, sec. 17, effective June 17, 1954.