Download as PDF
362.427 Liability for false statement in certificate.
If a certificate of limited partnership, certificate of amendment or certificate of
cancellation contains a false statement, a person who suffers loss by reliance on that
statement may recover damages for the loss from:
(1) Any person who executed the certificate, or caused another to execute it on his
behalf, and knew, and any general partner who knew or should have known, the
statement to be false at the time the certificate was executed; and
(2) Any general partner who thereafter knows or should have known that any
arrangement or other fact described in the certificate has changed, making the
statement inaccurate in any material respect, within a sufficient time before the
statement was relied upon reasonably to have enabled that general partner to cancel
or amend the certificate or to file a petition for its cancellation or amendment
pursuant to KRS 362.423.
Effective: June 26, 2007
History: Repeal the prior repeal contained in 2006 Ky. Acts ch. 149, sec. 239, which
was to have been effective January 1, 2008, 2007 Ky. Acts ch. 137, sec. 180,
effective June 26, 2007. -- Repealed 2006 Ky. Acts ch. 149, sec. 239, effective
January 1, 2008. -- Created 1988 Ky. Acts ch. 284, sec. 14, effective July 15, 1988.
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.
