{"data":{"id":"us-ky/krs-362.1-802","jurisdiction":"us-ky","citation":"KRS 362.1-802","heading":"Partnership continues after dissolution.","body":"(1) Subject to subsection (2) of this section, a partnership continues after dissolution\nonly for the purpose of winding up its business. The partnership is terminated when\nthe winding up of its business is completed.\n(2) At any time after the dissolution of a  partnership and before the winding up of its\nbusiness is completed, all of the partners, including any dissociating partner other\nthan a wrongfully dissociating partner, may waive the right to have the partnership's\nbusiness wound up and the partnership terminated. In that event:\n(a) The partnership resumes carrying on its business as if dissolution had never\noccurred, and any liability incurred by the partnership or a partner after the\ndissolution and before the waiver is determined as if dissolution had never\noccurred; and\n(b) The rights of a third party accruing under KRS 362.1 -804(1) or arising out of\nconduct in reliance on the dissolution before the third party has notice of the\nwaiver shall not be adversely affected.\n(3) The dissolution of a partnersh ip that is or was a limited liability partnership shall\nnot abate or suspend KRS 362.1-306(3).","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34504","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:57Z","sha256":"356a60891e2fef492cb012f7f33fe591f91d7979d2e042255f7d45f4e326693b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.1-801","next":"us-ky/krs-362.1-803"},"notice":"GroundRules: Original legal text. Not legal advice."}