There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subchapter 2 Kentucky Uniform Limited Partnership Act (2006)
362.2.502 Liability for contribution.
Download pdfdisability, or other inability to perform personally. (2) If a partner does not make a promised contribution of property or services, then the partner is obligated at the option of the limited partnership to contribute money
equal to that portion of the value, as stated in the required information, of the stated
contribution which has not been made. (3) The obligation of a partner to make a contribution or return money or other property paid or distributed in violation of this subchapter may be compromised only by
consent of all partners. A creditor of a limited partnership which extends credit or
otherwise acts in reliance on an obligation described in subsection (1) of this
section, and without notice of any compromise under this subsection, may enforce
the original obligation. Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 130, effective July 12, 2006.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.