{"data":{"id":"us-ky/krs-362.1-104","jurisdiction":"us-ky","citation":"KRS 362.1-104","heading":"Supplemental principles of law.","body":"(1) Unless displaced by particular provisions of this subchapter, the principles of law\nand equity supplement this subchapter.\n(2) If an obligation to pay interest arises under this subchapter and the rate is not\nspecified, then the rate is that specified in KRS 360.010.\n(3) Subject to KRS 362.1 -103(2), it shall be the policy of the Commonwealth in this\nsubchapter to give maximum effect to the principles of freedom of contract and the\nenforceability of partnership agreements. Although this subchapter is in dero gation\nof common law, the rules of construction that require strict construction of statutes\nthat are in derogation of common law shall not apply to its provisions. Except as\notherwise expressly provided herein, this subchapter shall not be construed to\nimpair the obligation of any contract existing when this subchapter, or any\namendment thereto, becomes effective, nor to affect any action or proceeding\nbegun, or right accrued before this subchapter or any amendment thereto takes\neffect.\n(4) A professional partnership shall be governed by the laws, whether statutory or\ncommon law, applicable to other partnerships. Except for the provisions of this\nsubchapter concerning the personal liability of partners, employees, and agents of a\npartnership, nothing in this subchapter shall restrict, limit, or expand in any manner\nthe authority and duty of any regulatory board to:\n(a) License individual persons providing professional services; and\n(b) Regulate the practice of persons providing professional services which ar e\nwithin the jurisdiction of the regulatory board, even though the persons are\npartners, employees, or agents of a professional partnership, or provide\nprofessional services through a professional partnership, including the\nestablishment of regulations concerning:\n1. The qualifications of partners of a professional partnership;\n2. The transfer of partnership interests in a professional partnership; or\n3. The provision of one (1) or more professional services through a\nprofessional partnership.\n(5) Action va lidly taken pursuant to a provision of this chapter shall not be deemed\ninvalid solely because it is identical or similar in substance to an action that could\nhave been taken pursuant to some other provision of this chapter but fails to satisfy\none (1) or more requirements prescribed by such other provision.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34443","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:56Z","sha256":"19037e8cecfd0eee8ae93740ae5772adac73d7fdd3b4896d1d93249718b4cbff","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.1-103","next":"us-ky/krs-362.1-105"},"notice":"GroundRules: Original legal text. Not legal advice."}