{"data":{"id":"us-ky/krs-362.1-601","jurisdiction":"us-ky","citation":"KRS 362.1-601","heading":"Events causing partner's dissociation.","body":"A partner is dissociated from a partnership upon the occurrence of any of the following\nevents:\n(1) When the partnership has notice of the partner's express will to withdraw as a\npartner unless a later date is specified by the partner in the notice;\n(2) An event agreed to in the partnership agreement as causing the partner's\ndissociation;\n(3) The partner's expulsion pursuant to the partnership agreement;\n(4) The partner's expulsion by the unanimous vote of the other partners if:\n(a) It is unlawful to carry on the partnership business with that partner;\n(b) There has been a transfer of all or substantially all of that partner's transferable\ninterest in the partnership, other than a transfer for security purposes that has\nnot been foreclosed, or a court order charging the partner's interest, which has\nnot been foreclosed;\n(c) Within ninety (90) days after the partnership notifies a corporate partner that it\nwill be expelled because it has filed a certificate of dissolution or the\nequivalent, its charter has bee n revoked, or its right to conduct business has\nbeen suspended by the jurisdiction of its incorporation, there is no revocation\nof the certificate of dissolution or no reinstatement of its charter or its right to\nconduct business; or\n(d) A partnership that  is a partner has been dissolved and its business is being\nwound up;\n(5) On application by the partnership or another partner, the partner's expulsion by\njudicial determination because:\n(a) The partner engaged in wrongful conduct that adversely and materia lly\naffected the partnership business;\n(b) The partner willfully or persistently committed a material breach of the\npartnership agreement or of a duty owed to the partnership or the other\npartners under KRS 362.1-404; or\n(c) The partner engaged in conduct relating to the partnership business which\nmakes it not reasonably practicable to carry on the business in partnership\nwith the partner;\n(6) The partner's:\n(a) Becoming a debtor in bankruptcy;\n(b) Executing an assignment for the benefit of creditors;\n(c) Seeking, consenting to, or acquiescing in the appointment of a trustee,\nreceiver, or liquidator of that partner or of all or substantially all of that\npartner's property; or\n(d) Failing, within ninety (90) days after the appointment, to have vacated or\nstayed the appointment of a trustee, receiver, or liquidator of the partner or of\nall or substantially all of the partner's property obtained without the partner's\nconsent or acquiescence, or failing within ninety (90) days after the expiration\nof a stay to have the appointment vacated;\n(7) In the case of a partner who is an individual:\n(a) The partner's death;\n(b) The appointment of a guardian or general conservator for the partner; or\n(c) A judicial determination that the partner has otherwise become incapab le of\nperforming the partner's duties under the partnership agreement;\n(8) In the case of a partner that is a trust or is acting as a partner by virtue of being a\ntrustee of a trust, distribution of the trust's entire transferable interest in the\npartnership, but not merely by reason of the substitution of a successor trustee;\n(9) In the case of a partner that is an estate or is acting as a partner by virtue of being a\npersonal representative of an estate, distribution of the estate's entire transferable\ninterest in the partnership, but not merely by reason of the substitution of a\nsuccessor personal representative; or\n(10) Termination of any other partner who is an entity.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34495","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:57Z","sha256":"bbd789fc970041f8f7415d2ef693c1cfe413e010c8e8ac356ad473368015f7e8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.1-504","next":"us-ky/krs-362.1-602"},"notice":"GroundRules: Original legal text. Not legal advice."}