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2009 Kentucky Revised Statutes
Subchapter 2 Kentucky Uniform Limited Partnership Act (2006)
362.2.303 No liability as limited partner for limited partnership.

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Page 1 of 1 362.2-303 No liability as limited partner for limited partnership. (1) An obligation of a limited partnership, whether arising in contract, tort, or otherwise, is not the obligation of any limited partner. A limited partner is not <br>personally liable, directly or indirectly, by way of indemnification, contribution, <br>assessment, or otherwise, for an obligation of the limited partnership solely by <br>reason of being a limited partner, even if the limited partner participates in the <br>management and control of the limited partnership. (2) Subsection (1) of this section shall not affect the liability of a limited partner for his or her own negligence, wrongful acts, or misconduct. Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 133, sec. 61, effective July 15, 2010. -- Created 2006 Ky. Acts ch. 149, sec. 117, effective July 12, 2006.

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