{"data":{"id":"us-ky/krs-362.1-306","jurisdiction":"us-ky","citation":"KRS 362.1-306","heading":"Partner's liability.","body":"(1) Except as otherwise provided in subsections (2) and (3) of this section, all partners\nare liable jointly and severally for all obligations of the partnership unless otherwise\nagreed by the claimant or provided by law.\n(2) A person admitted as a partner int o an existing partnership is not personally liable\nfor any partnership obligation incurred before the person's admission as a partner.\n(3) An obligation of a partnership arising out of or related to circumstances or events\noccurring or incurred while the partnership is a limited liability partnership, whether\narising in contract, tort, or otherwise, is solely the obligation of the partnership. A\npartner is not personally liable, directly or indirectly, by way of indemnification,\ncontribution, assessment, or  otherwise, for such an obligation solely by reason of\nbeing or so acting as a partner. This subsection applies notwithstanding anything\ninconsistent in the partnership agreement that existed immediately before the vote\nrequired to become a limited liability partnership under KRS 362.1-931(2).\n(4) Subsection (3) of this section shall not affect the liability of a partner in a limited\nliability partnership for his own negligence, wrongful acts, or misconduct.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40454","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:57Z","sha256":"d38b9fd8f5135edc3d4c14464131d47544925c4598c096e88bb3975ddde81f5d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.1-305","next":"us-ky/krs-362.1-307"},"notice":"GroundRules: Original legal text. Not legal advice."}