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Kentucky · Snapshot 09/05/2026

KRS 362.1-306: Partner's liability.

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    (1) Except as otherwise provided in subsections (2) and (3) of this section, all partners

    are liable jointly and severally for all obligations of the partnership unless otherwise

    agreed by the claimant or provided by law.

    (2) A person admitted as a partner int o an existing partnership is not personally liable

    for any partnership obligation incurred before the person's admission as a partner.

    (3) An obligation of a partnership arising out of or related to circumstances or events

    occurring or incurred while the partnership is a limited liability partnership, whether

    arising in contract, tort, or otherwise, is solely the obligation of the partnership. A

    partner is not personally liable, directly or indirectly, by way of indemnification,

    contribution, assessment, or otherwise, for such an obligation solely by reason of

    being or so acting as a partner. This subsection applies notwithstanding anything

    inconsistent in the partnership agreement that existed immediately before the vote

    required to become a limited liability partnership under KRS 362.1-931(2).

    (4) Subsection (3) of this section shall not affect the liability of a partner in a limited

    liability partnership for his own negligence, wrongful acts, or misconduct.

    Collected 2026-09-05T20:58:57Z. Source file · JSON

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