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275.010 Powers of limited liability companies.
(1)
(2)
(3)
Except as otherwise set forth in this chapter or unless the articles of organization or
operating agreement provide otherwise, every limited liability company shall have
the powers to do all things necessary or convenient to carry out its business and
affairs.
A limited liability company is a legal entity distinct from its members.
Professional limited liability companies shall be governed by the laws, whether
statutory or common law, applicable to other limited liability companies. Except for
those provisions concerning the personal liability of members, managers,
employees, and agents of a limited liability company, nothing in this chapter shall
restrict, limit, or expand in any manner the authority and duty of any regulating
board to:
(a) License individual persons providing professional services; and
(b) Regulate the practice of persons providing professional services which are
within the jurisdiction of the regulating board, even though the persons are
members, managers, employees, or agents of a professional limited liability
company, or provide professional services through a professional limited
liability company, including the establishment of regulations concerning:
1.
The qualifications of members or managers of a professional limited
liability company;
2.
The transfer of limited liability company interests in a professional
limited liability company; or
3.
The provision of one (1) or more professional services through a
professional limited liability company.
Effective: July 15, 2010
History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 92, effective July 15, 2010.
-- Amended 2007 Ky. Acts ch. 137, sec. 92, effective June 26, 2007. -- Created 1994
Ky. Acts ch. 389, sec. 2, effective July 15, 1994.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183,
provides, "The specific textual provisions of Sections 1 to 178 of this Act which
reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed
effective as of June 26, 2007, and those provisions are hereby made expressly
retroactive to that date, with the remainder of the text of those sections being
unaffected by the provisions of this section."
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