Kentucky Statutes 362.1-804 – Partner’s power to bind partnership after dissolution
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Subject to KRS § 362.1-805, a partnership is bound by a partner’s act after dissolution that: (1) Is appropriate for winding up the partnership business; or
(2) Would have bound the partnership under KRS § 362.1-301 before dissolution, if the other party to the transaction did not have notice of the dissolution.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 57, effective July 12, 2006.
(2) Would have bound the partnership under KRS § 362.1-301 before dissolution, if the other party to the transaction did not have notice of the dissolution.
Terms Used In Kentucky Statutes 362.1-804
- Business: includes every trade, occupation, and profession. See Kentucky Statutes 362.1-101
- 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
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 57, effective July 12, 2006.