Kentucky Statutes 362.441 – Limited partner’s right to information
Current as of: 2024 | Check for updates
|
Other versions
Each limited partner may:
(1) Inspect and copy any of the partnership records required to be maintained by KRS
362.409; and
(2) Obtain from the general partners from time to time, upon reasonable demand, and subject to such reasonable standards as may be set forth in the partnership agreement, or otherwise established by the general partners, and for any purpose reasonably related to the limited partner’s interest as a limited partner:
(a) True and full information regarding the state of the business and financial condition of the limited partnership;
(b) Promptly after becoming available, copies of the limited partnership’s federal, state, and local income tax returns for each year; and
(c) Such other information regarding the affairs of the limited partnership as is just and reasonable.
Effective: June 26, 2007
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 — Repealed 2006 Ky.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. 21, effective July 15, 1988.
(1) Inspect and copy any of the partnership records required to be maintained by KRS
Terms Used In Kentucky Statutes 362.441
- Federal: refers to the United States. See Kentucky Statutes 446.010
- 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
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
362.409; and
(2) Obtain from the general partners from time to time, upon reasonable demand, and subject to such reasonable standards as may be set forth in the partnership agreement, or otherwise established by the general partners, and for any purpose reasonably related to the limited partner’s interest as a limited partner:
(a) True and full information regarding the state of the business and financial condition of the limited partnership;
(b) Promptly after becoming available, copies of the limited partnership’s federal, state, and local income tax returns for each year; and
(c) Such other information regarding the affairs of the limited partnership as is just and reasonable.
Effective: June 26, 2007
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. 21, effective July 15, 1988.