Kentucky Statutes 362.1-203 – Partnership property
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Property transferred to or otherwise acquired by a partnership is property of the partnership and not of the partners individually.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 26, effective July 12, 2006.
Effective: July 12, 2006
Terms Used In Kentucky Statutes 362.1-203
- Partnership: means an association of two (2) or more persons to carry on as co- owners a business for profit formed under KRS §. See Kentucky Statutes 362.1-101
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Property: means all property, real, personal, or mixed, tangible or intangible, or any interest therein. See Kentucky Statutes 362.1-101
History: Created 2006 Ky. Acts ch. 149, sec. 26, effective July 12, 2006.