Ky. Rev. Stat. § 362.2-602

Current through Acts Received April 24, 2024

Section 362.2-602 - Effect of dissociation as limited partner

Upon a person's dissociation as a limited partner:

(1) Subject to KRS 362.2-704, the person does not have further rights as a limited partner;

(2) The person's obligation of good faith and fair dealing as a limited partner under KRS 362.2-305(2) continues only as to matters arising and events occurring before the dissociation;

(3) Subject to KRS 362.2-704 and 362.2-951 to 362.2-963, any transferable interest owned by the person in the person's capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee; and

(4) The dissociation does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a limited partner.

KRS 362.2-602

Effective:7/12/2006
Created 2006, Ky. Acts ch. 149, sec. 139, effective7/12/2006.