Kentucky Statutes 362.2-112 – Business transactions of partner with partnership
Current as of: 2024 | Check for updates
|
Other versions
A partner may lend money to, borrow money from, act as a surety, guarantor, or endorser for, guarantee or assume one (1) or more specific obligations of, provide collateral for, and transact other business with the limited partnership and, subject to other law, has the same rights and obligations with respect to the loan or other transaction as a person that is not a partner.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 91, effective July 12, 2006.
Effective: July 12, 2006
Terms Used In Kentucky Statutes 362.2-112
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Partner: means a limited partner or general partner. See Kentucky Statutes 362.2-102
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Kentucky Statutes 362.2-102
History: Created 2006 Ky. Acts ch. 149, sec. 91, effective July 12, 2006.