KRS 362.2-502: Liability for contribution.
Where this section sits in the code
(1) A partner's obligation to contribute money, property, or other benefit to, or to
perform services for, a limited partnership is not excused by the partner's death,
disability, or other inability to perform personally.
(2) If a partner does not make a promi sed contribution of property or services, then the
partner is obligated at the option of the limited partnership to contribute money
equal to that portion of the value, as stated in the required information, of the stated
contribution which has not been made.
(3) The obligation of a partner to make a contribution or return money or other property
paid or distributed in violation of this subchapter may be compromised only by
consent of all partners. A creditor of a limited partnership which extends credit or
otherwise acts in reliance on an obligation described in subsection (1) of this
section, and without notice of any compromise under this subsection, may enforce
the original obligation.
Collected 2026-09-05T20:58:58Z. Source file · JSON