Unless otherwise provided in a partnership agreement, a limited partner has no right to withdraw from a limited partnership. If the partnership agreement does not specify a time a limited partner may withdraw, a limited partner may not withdraw prior to the time for the dissolution and winding up of the limited partnership without the unanimous consent of the partners.
Effective: June 26, 2007

Terms Used In Kentucky Statutes 362.465

  • 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 — Repealed 2006 Ky.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. — Amended 1998 Ky. Acts ch. 341, sec. 50, effective July 15, 1998.
— Created 1988 Ky. Acts ch. 284, sec. 33, effective July 15, 1988.

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