Section 362.575 - Intent and policy of Commonwealth regarding registered limited liability partnerships(1) A registered limited liability partnership, formed and existing under KRS 362.155, 362.175, 362.190, 362.220, 362.235, 362.315, 362.325, 362.345, and KRS 362.555 to 362.605, may conduct its business, carry on its operations, and have and exercise the powers granted by KRS 362.155, 362.175, 362.190, 362.220, 362.235, 362.315, 362.325, 362.345, and KRS 362.555 to 362.605 in any state, territory, district, or possession of the United States or in any foreign country.(2) It is the intent of the General Assembly that the legal existence of any registered limited liability partnership formed and existing under KRS 362.155, 362.175, 362.190, 362.220, 362.235, 362.315, 362.325, 362.345, and KRS 362.555 to 362.605 shall be recognized outside the boundaries of this Commonwealth and that the laws of this Commonwealth governing any registered limited liability partnership transacting business outside this Commonwealth shall be granted the protection of full faith and credit under the Constitution of the United States.(3) It is the policy of this Commonwealth that the internal affairs of registered limited liability partnerships, formed and existing under KRS 362.155, 362.175, 362.190, 362.220, 362.235, 362.315, 362.325, 362.345, and KRS 362.555 to 362.605, including the liability of partners for debts, obligations, and liabilities chargeable to partnerships, shall be subject to and governed by the laws of this Commonwealth.(4) Subject to any statutes for the regulation and control of specific types of business limited liability partnerships, formed and existing under the laws of another state or jurisdiction, may engage in any business in this Commonwealth.(5) It is the policy of this Commonwealth that the internal affairs of partnerships, including limited liability partnerships, formed and existing under the laws of another state or jurisdiction, including the liability of partners for debts, obligations, and liabilities chargeable to partnerships, shall be subject to and governed by the laws of that other state or jurisdiction.Effective:7/15/2010
Repealed and reenacted 2010, Ky. Acts ch. 51, sec. 170, effective7/15/2010. -- Repeal the prior repeal contained in 2006, Ky. Acts ch. 149, sec. 239, which was to have been effective 1/1/2008, 2007, Ky. Acts ch. 137, sec. 180, effective 6/26/2007; and amend 2007, Ky. Acts ch. 137, sec. 170, effective 6/26/2007. -- Repealed 2006, Ky. Acts ch. 149, sec. 239, effective 1/1/2008. -- Created 1994 Ky. Acts ch. 389, sec. 104, effective 7/15/1994.