Except as provided in the partnership agreement, a partner may lend money to, and transact other business with, the limited partnership and, subject to other applicable law, shall have the same rights and obligations with respect thereto as a person who is not a partner.
Effective: June 26, 2007

Terms Used In Kentucky Statutes 362.413

  • 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.
  • Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010

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 — Repealed 2006 Ky.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. 7, effective July 15, 1988.

  Previous section
Next section  
 Chapter 362 Contents