KRS 362.2-806: Known claims against dissolved limited partnership.

(1) A dissolved limited partnership may dispose of the known claims against it by

following the procedure described in subsection (2) of this section.

(2) A dissolved limited partnership may in a record notify its known claimants of the

dissolution. The notice shall:

(a) Specify the information required to be included in a claim;

(b) Provide a mailing address to which the claim is to be sent;

(c) State the deadline for receipt of the claim, which shall not be less than one

hundred twenty (120) days after the da te the notice in a record is received by

the claimant;

(d) State that the claim will be barred if not received by the deadline; and

(e) Unless the limited partnership has been throughout its existence a limited

liability limited partnership, state that the barring of a claim against the

limited partnership will also bar any corresponding claim against any present

or dissociated general partner which is based on KRS 362.2-404.

(3) A claim against a dissolved limited partnership is barred if the requirements of

subsection (2) of this section are met and:

(a) The claim is not received by the specified deadline; or

(b) In the case of a claim that is timely received but rejected by the dissolved

limited partnership, the claimant does not commence a proceeding to enforce

the claim against the limited partnership within ninety (90) days after the

receipt of the notice of the rejection.

(4) This section does not apply to a contingent liability or a claim based on an event

occurring after the effective date of dissolution.