Kentucky Statutes 362.521 – Effect on existing partnerships
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(1) A limited partnership formed under any statute of this state prior to the adoption of KRS § 362.403 to KRS § 362.525, until or unless it becomes a limited partnership under KRS § 362.2-102 to KRS § 362.2-977, 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 state prior to the adoption of
KRS § 362.2-102 to KRS § 362.2-977 may elect to become subject to KRS § 362.2-102 to
362.2-977 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 KRS § 362.403 to KRS § 362.525 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 state prior to the adoption of KRS § 362.403 to KRS § 362.525 shall not be required to change its name to include the word “Limited” or its abbreviation “Ltd.” before the time it becomes subject to KRS
362.2-102 to 362.2-977.
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 — Repealed 2006 Ky.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 2006 Ky. Acts ch. 149, sec. 238, effective July 12,
2006. — Created 1988 Ky. Acts ch. 284, sec. 60, effective July 15, 1988.
(2) A limited partnership formed under any statute of this state prior to the adoption of
Terms Used In Kentucky Statutes 362.521
- 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.
- 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.
KRS § 362.2-102 to KRS § 362.2-977 may elect to become subject to KRS § 362.2-102 to
362.2-977 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 KRS § 362.403 to KRS § 362.525 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 state prior to the adoption of KRS § 362.403 to KRS § 362.525 shall not be required to change its name to include the word “Limited” or its abbreviation “Ltd.” before the time it becomes subject to KRS
362.2-102 to 362.2-977.
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 2006 Ky. Acts ch. 149, sec. 238, effective July 12,
2006. — Created 1988 Ky. Acts ch. 284, sec. 60, effective July 15, 1988.