362.2-806 Known claims against dissolved limited partnership.
(1)
(2)
(3)
(4)
A dissolved limited partnership may dispose of the known claims against it by
following the procedure described in subsection (2) of this section.
A dissolved limited partnership may in a record notify its known claimants of the
dissolution. The notice shall:
(a) Specify the information required to be included in a claim;
(b) Provide a mailing address to which the claim is to be sent;
(c) State the deadline for receipt of the claim, which shall not be less than one
hundred twenty (120) days after the date the notice in a record is received by
the claimant;
(d) State that the claim will be barred if not received by the deadline; and
(e) Unless the limited partnership has been throughout its existence a limited
liability limited partnership, state that the barring of a claim against the
limited partnership will also bar any corresponding claim against any present
or dissociated general partner which is based on KRS 362.2-404.
A claim against a dissolved limited partnership is barred if the requirements of
subsection (2) of this section are met and:
(a) The claim is not received by the specified deadline; or
(b) In the case of a claim that is timely received but rejected by the dissolved
limited partnership, the claimant does not commence a proceeding to enforce
the claim against the limited partnership within ninety (90) days after the
receipt of the notice of the rejection.
This section does not apply to a contingent liability or a claim based on an event
occurring after the effective date of dissolution.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 154, effective July 12, 2006.
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