2006 Kentucky Revised Statutes - .1101   Law governing foreign limited liability partnership.

362.1-1101 Law governing foreign limited liability partnership. (1) Subject to the Constitution of this Commonwealth, the law of the jurisdiction in which a foreign limited liability partnership is formed governs relations among the partners, between the partners and the partnership, and the liability of partners for obligations of the partnership. This subchapter does not authorize this Commonwealth to regulate the organization or internal affairs of a foreign limited liability partnership authorized to transact business in this Commonwealth. (2) A foreign limited liability partnership shall not be denied a statement of foreign qualification by reason of any difference between the law under which the partnership was formed and the law of this Commonwealth. (3) No foreign partnership, including a foreign limited liability partnership that has filed a statement of foreign qualification, may engage in any business or exercise any power that a domestic partnership is forbidden to exercise or engage in by the laws of this Commonwealth. Effective: July 12, 2006 History: Created 2006 Ky. Acts ch. 149, sec. 71, effective July 12, 2006. Page 1 of 1