{"data":{"id":"us-ky/krs-275.185","jurisdiction":"us-ky","citation":"KRS 275.185","heading":"Required records -- Inspection right of member -- Limitations upon use of","body":"records.\n(1) A limited liability company shall keep at its principal office or other location as set\nforth in a written operating agreement, the following:\n(a) A current list,  and all past lists, setting forth the full name and last known\nmailing address of each member and, if any, each manager;\n(b) A copy of the articles of organization and all amendments thereto, together\nwith executed copies of any power of attorney pursuant  to which any articles\nof amendment have been executed;\n(c) Copies of the limited liability company's federal, state, and local income tax\nreturns and financial statements, if any, for the three (3) most recent years or,\nif those returns and statements wer e not prepared, copies of the information\nand statements provided to, or which should have been provided to, the\nmembers to enable them to prepare their federal, state, and local tax returns\nfor those years;\n(d) Copies of any effective written operating ag reements and all amendments\nthereto, and copies of any written operating agreements no longer in effect;\nand\n(e) Unless contained in writing in an operating agreement:\n1. A writing setting forth the amount of cash, if any, and a statement of the\nagreed value of other property or services, if any, contributed by each\nmember and the times at which or events upon the happening of which\nany additional contributions are to be made;\n2. A writing stating events, if any, upon the happening of which the limited\nliability company is to be dissolved and its affairs wound up; and\n3. Other writings, if any, prepared pursuant to a requirement, if any, in an\noperating agreement.\n(2) Subject to subsection (5) of this section, upon reasonable written request to the\nlimited liability company, a member may, at the member's own expense, inspect and\ncopy during ordinary business hours any limited liability company record, where the\nrecord is located or at a reasonable location.\n(3) Members, if the management of the limited liabil ity company is vested in the\nmembers, or managers, if management of the limited liability company is vested in\nmanagers, shall render, to the extent the circumstances render it just and reasonable,\ntrue and full information of all matters affecting the mem bers to any member, and\nthe member's agent, and to the legal representative of any deceased member or of\nany member under legal disability.\n(4) Failure of the limited liability company to keep or maintain any of the records or\ninformation required pursuant  to this section shall not be grounds for imposing\nliability on any member or manager for the debts and obligations of the limited\nliability company.\n(5) A written operating agreement may impose reasonable limitations upon the\ninspection and use of any record of or information with respect to a limited liability\ncompany. Except as to limitations set forth in a written operating agreement to\nwhich a member r equesting information has assented, the limited liability company\nbears the burden of proof in demonstrating the reasonableness of any restrictions\nimposed.","path":["KRS Chapter 275"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=42381","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:27Z","sha256":"a3a6af59448b2d9b54184765243e4cc6077caac1b7d9affc9fd4a6c654d66442","source_id":"us-ky","stale":false,"prev":"us-ky/krs-275.180","next":"us-ky/krs-275.190"},"notice":"GroundRules: Original legal text. Not legal advice."}