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362.2-1102 Conversion.
(1) Subject to KRS 362.2-1110, a partnership may be converted to a limited partnership
as provided in KRS 362.1-902.
(2) Subject to KRS 362.2-1110, a limited partnership may be converted to a partnership
as provided in KRS 362.1-903.
(3) Subject to KRS 362.2-1110, a limited partnership may be converted to a limited
liability company as provided in KRS 275.370.
(4) A limited liability company may be converted to a limited partnership pursuant to
this section and KRS 362.2-1103, 362.2-1104, and 362.2-1105 and a plan of <br>conversion, if: <br>(a) The limited liability companies' governing statute authorizes the conversion; <br>(b) The conversion is not prohibited by the law of the jurisdiction that enacted
that governing statute; and
(c) The limited liability company complies with its governing statute in effecting
the conversion.
(5) A plan of conversion of a limited liability company into a limited partnership shall
be in a record and shall include: <br>(a) The name of the limited liability company before conversion; <br>(b) The name of the converted limited partnership; <br>(c) The terms and conditions of the conversion, including the manner and basis
for converting interests in the converting organization into any combination of <br>money, interests in the converted limited partnership, and other consideration; <br>and
(d) The organizational documents of the converted limited partnership.
Effective: July 12, 2006 <br>History: Created 2006 Ky. Acts ch. 149, sec. 177, effective July 12, 2006.
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