Kentucky Statutes 362.175 – Partnership defined
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(1) A partnership is an association of two (2) or more persons to carry on as co-owners a business for profit and includes, for all purposes of the laws of this Commonwealth, a registered limited liability partnership.
(2) But any association formed under any other statute of this state, or any statute adopted by authority, other than the authority of this state, is not a partnership under KRS § 362.150 to KRS § 362.360, unless such association would have been a partnership in this state prior to the adoption of KRS § 362.150 to KRS § 362.360; but KRS § 362.150 to
362.360 shall apply to limited partnerships except insofar as the statutes relating to such partnerships are inconsistent herewith.
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 — Repealed 2006 Ky.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. — Amended 1994 Ky. Acts ch. 389, sec. 95, effective July 15, 1994.
— Created 1954 Ky. Acts ch. 38, sec. 6, effective June 17, 1954.
(2) But any association formed under any other statute of this state, or any statute adopted by authority, other than the authority of this state, is not a partnership under KRS § 362.150 to KRS § 362.360, unless such association would have been a partnership in this state prior to the adoption of KRS § 362.150 to KRS § 362.360; but KRS § 362.150 to
Terms Used In Kentucky Statutes 362.175
- 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
- Statute: A law passed by a legislature.
362.360 shall apply to limited partnerships except insofar as the statutes relating to such partnerships are inconsistent herewith.
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 — Repealed 2006 Ky.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. — Amended 1994 Ky. Acts ch. 389, sec. 95, effective July 15, 1994.
— Created 1954 Ky. Acts ch. 38, sec. 6, effective June 17, 1954.