Kentucky Statutes 362.2-974 – Effect on limited partnerships formed prior to July 15, 1988
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(1) A limited partnership formed under any statute of this Commonwealth prior to July
15, 1988, until or unless it becomes a limited partnership under this subchapter, shall continue to be governed by the provisions of the statute under which it was formed.
(2) A limited partnership formed under any statute of this Commonwealth prior to July
15, 1988, may elect to become subject to this subchapter upon the filing of an amended and restated certificate of limited partnership which complies with the provisions of KRS § 362.2-201.
(3) Upon the occurrence of any event which would require the filing of a certificate of amendment by a limited partnership under the Kentucky Revised Uniform Limited Partnership Act, KRS § 362.401 to KRS § 362.525, as it exists on July 12, 2006, or under the statute under which the limited partnership was formed, the limited partnership shall file an amended and restated certificate of limited partnership which complies with the provisions of KRS § 362.2-201.
(4) A limited partnership formed under any statute of this Commonwealth prior to July
15, 1988, shall not be required to change its name to include the word “Limited” or the abbreviation “Ltd.” until such time as it becomes subject to this subchapter.
(5) The enactment of this subchapter shall not impair, or otherwise affect, the organization or the continued existence of a limited partnership existing on July 15,
1988, nor does any repeal of any statutory provision by 1988 Ky. Acts ch. 284, sec.
65, impair any contract or affect any right accrued before July 15, 1988.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 192, effective July 12, 2006.
Formerly codified as KRS § 362.2-1204.
15, 1988, until or unless it becomes a limited partnership under this subchapter, shall continue to be governed by the provisions of the statute under which it was formed.
Terms Used In Kentucky Statutes 362.2-974
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Certificate of limited partnership: means the certificate required by KRS §. See Kentucky Statutes 362.2-102
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Statute: A law passed by a legislature.
(2) A limited partnership formed under any statute of this Commonwealth prior to July
15, 1988, may elect to become subject to this subchapter upon the filing of an amended and restated certificate of limited partnership which complies with the provisions of KRS § 362.2-201.
(3) Upon the occurrence of any event which would require the filing of a certificate of amendment by a limited partnership under the Kentucky Revised Uniform Limited Partnership Act, KRS § 362.401 to KRS § 362.525, as it exists on July 12, 2006, or under the statute under which the limited partnership was formed, the limited partnership shall file an amended and restated certificate of limited partnership which complies with the provisions of KRS § 362.2-201.
(4) A limited partnership formed under any statute of this Commonwealth prior to July
15, 1988, shall not be required to change its name to include the word “Limited” or the abbreviation “Ltd.” until such time as it becomes subject to this subchapter.
(5) The enactment of this subchapter shall not impair, or otherwise affect, the organization or the continued existence of a limited partnership existing on July 15,
1988, nor does any repeal of any statutory provision by 1988 Ky. Acts ch. 284, sec.
65, impair any contract or affect any right accrued before July 15, 1988.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 192, effective July 12, 2006.
Formerly codified as KRS § 362.2-1204.