KRS 362.2-402: General partner agent of limited partnership.
Where this section sits in the code
(1) Each general partner is an agent of the limited partnership for the purposes of its
activities. An act of a general partner, including the signing of a record in the
partnership's name, for apparently carrying on in the ordinary course the limited
partnership's activities or activities of the kind carried on by the limited partnership,
binds the limited partnership, unless the general partner did not have authority to act
for the limited partnership in the particular matter and the person with which the
general partner was dealing knew, had received a notification, or had notice under
KRS 362.2-103(4) that the general partner lacked authority.
(2) An act of a general partner which is not apparently for carrying on in the ordinary
course the limited partnersh ip's activities or activities of the kind carried on by the
limited partnership binds the limited partnership only if the act was authorized by
all the other partners.
Collected 2026-09-05T20:58:58Z. Source file · JSON