Kentucky Statutes 362.1-705 – Continued use of partnership name
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Continued use of a partnership name, or a dissociated partner’s name as part of the partnership name, by partners continuing the business does not of itself make the dissociated partner liable for an obligation of the partners or the partnership continuing the business.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 53, effective July 12, 2006.
Effective: July 12, 2006
Terms Used In Kentucky Statutes 362.1-705
- Business: includes every trade, occupation, and profession. See Kentucky Statutes 362.1-101
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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: 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
History: Created 2006 Ky. Acts ch. 149, sec. 53, effective July 12, 2006.