A contribution of a partner may consist of tangible or intangible property or other benefit to the limited partnership, including money, services performed, promissory notes, other agreements to contribute cash or property, and contracts for services to be performed.
Effective: July 12, 2006

Terms Used In Kentucky Statutes 362.2-501

  • Contribution: means any benefit provided by a person to a limited partnership in
    order to become a partner or in the person's capacity as a partner. See Kentucky Statutes 362.2-102
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Partner: means a limited partner or general partner. See Kentucky Statutes 362.2-102

History: Created 2006 Ky. Acts ch. 149, sec. 129, effective July 12, 2006.

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