{"data":{"id":"us-ky/krs-362.2-103","jurisdiction":"us-ky","citation":"KRS 362.2-103","heading":"Knowledge and notice.","body":"(1) A person knows a fact if the person has actual knowledge of it.\n(2) Except as otherwise provided in subsections (3) and (4) of this section, a person has\nnotice of a fact if the person:\n(a) Knows of it;\n(b) Has received a notification of it; or\n(c) Has reason to know it exists from all of the facts known to the person at the\ntime in question.\n(3) Subject to subsection (4) of this section, a certificate of limited partnership on file in\nthe office of the Secretary of State is notice that the partnership is a  limited\npartnership and the persons designated in the certificate as general partners are\ngeneral partners, but is not notice of any other fact.\n(4) A person has notice of:\n(a) Another person's dissociation as a general partner ninety (90) days after the\neffective date of an amendment to the certificate of limited partnership which\nstates that the other person has dissociated or ninety (90) days after the\neffective date of a statement of dissociation pertaining to that other person,\nwhichever occurs first;\n(b) A limited partnership's dissolution ninety (90) days after the effective date of\nan amendment to the certificate of limited partnership stating that the limited\npartnership is dissolved;\n(c) A limited partnership's cancellation ninety (90) days after the effective date of\na statement of cancellation;\n(d) A limited partnership's conversion under KRS 362.2 -951 to 362.2-963 ninety\n(90) days after the effective date of the articles of conversion; and\n(e) A merger under KRS 362.2 -951 to 362.2 -963 ninety (90 ) days after the\neffective date of the articles of merger.\n(5) A person notifies or gives a notification to another person by taking steps\nreasonably required to inform the other person in ordinary course, whether or not\nthe other person learns of it.\n(6) A person receives a notification when the notification:\n(a) Comes to the person's attention; or\n(b) Is duly delivered at the person's place of business or at any other place held\nout by the person as a place for receiving communications.\n(7) Except as otherwise provided in subsection (8) of this section, an entity knows, has\nnotice, or receives a notification of a fact for purposes of a particular transaction\nwhen the individual conducting the transaction for the entity knows, has notice, or\nreceives a notification of the fact, or in any event when the fact would have been\nbrought to the individual's attention if the entity had exercised reasonable diligence.\nAn entity exercises reasonable diligence if it maintains reasonable routines for\ncommunicating significant information to the individual conducting the transaction\nfor the entity, and there is reasonable compliance with the routines. Reasonable\ndiligence does not require an individual acting for the entity to communicate\ninformation unless the communication is part of the individual's regular duties or\nthe individual has reason to know of the transaction, and that the transaction would\nbe materially affected by the information.\n(8) A general partner's knowledge, notice, or receipt of a notif ication of a fact relating\nto the limited partnership is effective immediately as knowledge by, notice to, or\nreceipt of a notification by the limited partnership, except in the case of a fraud on\nthe limited partnership committed by or with the consent of  the general partner. A\nlimited partner's knowledge, notice, or receipt of a notification of a fact relating to\nthe limited partnership is not effective as knowledge by, notice to, or receipt of a\nnotification by the limited partnership.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34524","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:57Z","sha256":"4be105d08f38f7f62ce4f1637630c6fff7d6efabffc0dd97e9c8c2145865455b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.2-102","next":"us-ky/krs-362.2-104"},"notice":"GroundRules: Original legal text. Not legal advice."}