KRS 362.2-807: Other claims against dissolved limited partnership.

(1) A dissolved limited partnership may publish notice of its dissolution and request

persons having claims against the limited partnership to present them in accordance

with the notice.

(2) The notice shall:

(a) Be published at least once in a newspaper of ge neral circulation in the county

in which the dissolved limited partnership's principal office is located or, if it

has none in this Commonwealth, then in the county in which the limited

partnership's registered office is or was last located;

(b) Describe t he information required to be contained in a claim and provide a

mailing address to which the claim is to be sent;

(c) State that a claim against the limited partnership is barred unless a proceeding

to enforce the claim is commenced within five (5) years after publication of

the notice; and

(d) 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 again st any present

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

(3) If a dissolved limited partnership publishes a notice in accordance with subsection

(2) of this section, the claim of each of the following claimants is barred unless the

claimant commences a proceeding to enforce the claim against the dissolved limited

partnership within five (5) years after the publication date of the notice:

(a) A claimant that did not receive notice in a record under KRS 362.2-806;

(b) A claimant whose cl aim was timely sent to the dissolved limited partnership

but not acted on; and

(c) A claimant whose claim is contingent or based on an event occurring after the

effective date of dissolution.

(4) A claim not barred under this section may be enforced:

(a) Against the dissolved limited partnership, to the extent of its undistributed

assets;

(b) If the assets have been distributed in liquidation, against a partner or transferee

to the extent of that person's proportionate share of the claim or the limited

partnership's assets distributed to the partner or transferee in liquidation,

whichever is less, but a person's total liability for all claims under this

paragraph does not exceed the total amount of assets distributed to the person

as part of the winding up of the dissolved limited partnership; or

(c) Against any person liable on the claim under KRS 362.2-404.