KRS 362.1-306: Partner's liability.
Where this section sits in the code
(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