{"data":{"id":"us-ky/krs-362.1-101","jurisdiction":"us-ky","citation":"KRS 362.1-101","heading":"Definitions for subchapter.","body":"As used in this subchapter, unless the context otherwise requires:\n(1) \"Business\" includes every trade, occupation, and profession;\n(2) \"Debtor in bankruptcy\" means a person who is the subject of:\n(a) An order for relief under Title 11 of the United States  Code or a comparable\norder under a successor statute of general application; or\n(b) A comparable order under federal, state, or foreign law governing insolvency;\n(3) \"Deliver\" or \"delivery\" means any method of delivery used in conventional\ncommercial prac tice, including delivery by hand, mail, commercial delivery, and\nelectronic transmission;\n(4) \"Distribution\" means a transfer of money or other property from a partnership to a\npartner in the partner's capacity as a partner or to the transferee of all or a  part of a\npartner's transferable interest;\n(5) \"Electronic transmission\" or \"electronically transmitted\" means any process of\ncommunication not directly involving the physical transfer of paper that is suitable\nfor the retention, retrieval, and reproduction of information by the recipient;\n(6) \"Entity\" means a corporation, foreign corporation, not -for-profit corporation, profit\nor not -for-profit unincorporated association, business or statutory trust, estate,\npartnership, limited partnership, trust, two (2 ) or more persons having a joint or\ncommon economic interest, and a state, national, or foreign government;\n(7) \"Foreign limited liability partnership\" means a partnership that:\n(a) Is formed under laws other than the laws of this Commonwealth; and\n(b) Has the status of a limited liability partnership under those laws;\n(8) \"Limited liability partnership\" means a partnership that has filed a statement of\nqualification under KRS 362.1 -931 and does not have a similar statement in effect\nin any other jurisdiction;\n(9) \"Name of record with the Secretary of State\" means any real, fictitious, reserved,\nregistered, or assumed name of an entity;\n(10) \"Partnership\" means an association of two (2) or more persons to carry on as co -\nowners a business for profit formed under KRS 362.1 -202, predecessor law, or\ncomparable law of another jurisdiction;\n(11) \"Partnership agreement\" means the agreement, whether written, oral, or implied,\namong the partners concerning the partnership, includin g amendments to the\npartnership agreement;\n(12) \"Partnership at will\" means a partnership in which the partners have not agreed to\nremain partners until the expiration of a definite term or the completion of a\nparticular undertaking;\n(13) \"Partnership inte rest\" or \"partner's interest in the partnership\" means all of a\npartner's interests in the partnership, including the partner's transferable interest and\nall management and other rights;\n(14) \"Person\" means an individual, an entity, or any other legal or commercial entity;\n(15) \"Professional partnership\" means a partnership organized under this subchapter or\nthe laws of another state or foreign country for purposes that include, but are not\nlimited to, the providing of one (1) or more professional services.  Except as\notherwise expressly provided in this subchapter, all provisions of this subchapter\ngoverning partnerships shall be applicable to professional partnerships;\n(16) \"Professional services\" mean the personal services rendered by physicians,\nosteopaths, optometrists, podiatrists, chiropractors, dentists, nurses, pharmacists,\npsychologists, occupational therapists, veterinarians, engineers, architects,\nlandscape architects, certified public accountants, public accountants, physical\ntherapists, and attorneys;\n(17) \"Property\" means all property, real, personal, or mixed, tangible or intangible, or\nany interest therein;\n(18) \"Regulatory board\" means the agency that is charged by law with the licensing and\nregulation of the practice of the profession which t he professional partnership is\norganized to provide;\n(19) \"Sign\" or \"signature\" includes any manual, facsimile, conformed, or electronic\nsignature;\n(20) \"State\" means a state of the United States, the District of Columbia, the\nCommonwealth of Puerto Rico, or any territory or insular possession subject to the\njurisdiction of the United States;\n(21) \"Statement\" means a statement of partnership authority under KRS 362.1 -303, a\nstatement of denial under KRS 362.1 -304, a statement of dissociation under KRS\n362.1-704, a statement of dissolution under KRS 362.1 -805, a statement of merger\nunder KRS 362.1 -907, a statement of qualification under KRS 362.1 -931, a\nstatement of foreign qualification under KRS 362.1 -951, or an amendment or\ncancellation of any of the foregoing; and\n(22) \"Transfer\" includes an assignment, conveyance, lease, mortgage, deed, and\nencumbrance.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34440","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:56Z","sha256":"b7c7176843b83fd3f3c18cd5d8275e1cdbf0951dabcfa1a1e8d96d25c8b1c945","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.1-1003","next":"us-ky/krs-362.1-102"},"notice":"GroundRules: Original legal text. Not legal advice."}