362.2-1102 Conversion.
(1)
(2)
(3)
(4)
(5)
Subject to KRS 362.2-1110, a partnership may be converted to a limited partnership
as provided in KRS 362.1-902.
Subject to KRS 362.2-1110, a limited partnership may be converted to a partnership
as provided in KRS 362.1-903.
Subject to KRS 362.2-1110, a limited partnership may be converted to a limited
liability company as provided in KRS 275.370.
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
conversion, if:
(a) The limited liability companies' governing statute authorizes the conversion;
(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.
A plan of conversion of a limited liability company into a limited partnership shall
be in a record and shall include:
(a) The name of the limited liability company before conversion;
(b) The name of the converted limited partnership;
(c) The terms and conditions of the conversion, including the manner and basis
for converting interests in the converting organization into any combination of
money, interests in the converted limited partnership, and other consideration;
and
(d) The organizational documents of the converted limited partnership.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 177, effective July 12, 2006.
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