2006 Kentucky Revised Statutes - .401   Definitions.  (Effective until January 1, 2008)

362.401 Definitions. (Effective until January 1, 2008) As used in KRS 362.403 to 362.525, unless the context otherwise requires, the term: (1)  "Certificate of limited partnership" means the certificate referred to in KRS 362.415, or the certificate of limited partnership as amended or restated. (2)  "Contribution" means any cash, property, services rendered, or a promissory note or other obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in his capacity as a partner. (3)  "Event of withdrawal of a general partner" means an event that causes a person to cease to be a general partner as provided in KRS 362.445. (4)  "Foreign limited partnership" means a limited partnership formed under the laws of any state other than this state and having as partners one (1) or more general partners and one (1) or more limited partners. (5)  "General partner" means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and is named in the certificate of limited partnership as a general partner. (6)  "Limited partner" means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement. (7)  "Limited partnership" or "domestic limited partnership" means a partnership formed by two (2) or more persons under the laws of this state and having one (1) or more general partners and one (1) or more limited partners. (8)  "Partner" means a limited partner or general partner. (9)  "Partnership agreement" means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business. (10) "Partnership interest" means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets. (11) "Person" means a natural person; partnership; limited partnership, which is either domestic or foreign; trust; estate; association; or corporation. (12) "State" means a state, territory, or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico. Effective: July 15, 1988 History: Repealed 2006 Ky. Acts ch. 149, sec. 239, effective January 1, 2008. -- Created 1988 Ky. Acts ch. 284, sec. 1, effective July 15, 1988.