Kentucky Statutes 362.2-802 – Judicial dissolution
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(1) On application by a partner, the Circuit Court of the county in which the limited partnership maintains its registered agent may decree dissolution of a limited partnership if it is not reasonably practicable to carry on the activities of the limited partnership in conformity with the partnership agreement.
(2) If after a hearing the court determines that one (1) or more grounds for judicial dissolution exist, it may enter a decree dissolving the limited partnership and the clerk of the court shall deliver a certified copy of the decree to the Secretary of State, who shall file it. The dissolution shall be effective upon the filing of the decree by the Secretary of State or such later date as is specified in the decree.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 81, sec. 123, effective July 12, 2012. — Created
2006 Ky. Acts ch. 149, sec. 150, effective July 12, 2006.
(2) If after a hearing the court determines that one (1) or more grounds for judicial dissolution exist, it may enter a decree dissolving the limited partnership and the clerk of the court shall deliver a certified copy of the decree to the Secretary of State, who shall file it. The dissolution shall be effective upon the filing of the decree by the Secretary of State or such later date as is specified in the decree.
Terms Used In Kentucky Statutes 362.2-802
- Partner: means a limited partner or general partner. See Kentucky Statutes 362.2-102
- 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
- Partnership agreement: means the partners' agreement, oral, implied, in record form, or in any combination, concerning the limited partnership. See Kentucky Statutes 362.2-102
- State: means a State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Kentucky Statutes 362.2-102
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 81, sec. 123, effective July 12, 2012. — Created
2006 Ky. Acts ch. 149, sec. 150, effective July 12, 2006.