KRS 362.2-960: Restrictions on approval of conversions and mergers and on
Where this section sits in the code
relinquishing LLLP status.
(1) If a partner of a converting or constituent limited partnership will have personal
liability with respect to a converted or surviving organization, then approv al and
amendment of a plan of conversion or merger are ineffective without the consent of
that partner, unless:
(a) The limited partnership's partnership agreement provides for the approval of
the conversion or merger with the consent of less than all the partners; and
(b) That partner has consented to that provision of the partnership agreement.
(2) An amendment to a certificate of limited partnership which deletes a statement that
the limited partnership is a limited liability limited partnership is ineffective without
the consent of each general partner unless:
(a) The limited partnership's partnership agreement provides for that amendment
with the consent of less than all the general partners; and
(b) Each general partner that does not consent to the ame ndment has consented to
that provision of the partnership agreement.
(3) A partner does not give the consent required by subsection (1) or (2) of this section
merely by consenting to a provision of the partnership agreement which permits the
partnership agreement to be amended with the consent of less than all the partners.
Collected 2026-09-05T20:58:59Z. Source file · JSON