{"data":{"id":"us-ky/krs-362.2-304","jurisdiction":"us-ky","citation":"KRS 362.2-304","heading":"Right to information of limited partner and former limited partner.","body":"(1) On ten (10) days' demand, made in a record received by the limited partnership, a\nlimited partner may inspect and copy during regular business hours in the limited\npartnership's designated office the information required by KRS 362.2 -111. A\nlimited partner making demand pursuant to this subsection need not demonstrate,\nstate, or have any particular purpose for seeking the information.\n(2) A limited partner, during regular business hours and at a reasonable location\nspecified by the limited partnership, may obtain from the limited partnership and\ninspect and copy true and full information regarding the state of the activities and\nfinancial condition of the limited partnership and other information regarding the\nactivities of the limited partnership as is just and reasonable if:\n(a) The limited partner seeks the information for a purpose reasonably related to\nthe partner's interest as a limited partner;\n(b) The limited partner makes a demand in a record received by the limited\npartnership, describing with reaso nable particularity the information sought\nand the purpose for seeking the information; and\n(c) The information sought is directly connected to the limited partner's purpose.\n(3) Within ten (10) days after receiving a demand pursuant to subsection (2) of t his\nsection, the limited partnership shall in a record inform the limited partner that\nmade the demand:\n(a) What information the limited partnership will provide in response to the\ndemand;\n(b) When and where the limited partnership will provide that information; and\n(c) If the limited partnership declines to provide any demanded information, the\nlimited partnership's reasons for declining.\n(4) Subject to subsection (6) of this section, a person dissociated as a limited partner\nmay inspect and copy during re gular business hours in the limited partnership's\ndesignated office the information required by KRS 362.2-111 if:\n(a) The information pertains to the period during which the person was a limited\npartner;\n(b) The person seeks the information in good faith; and\n(c) The person meets the requirements of subsection (2) of this section.\n(5) The limited partnership shall respond to a demand made pursuant to subsection (4)\nof this section in the same manner as provided in subsection (3) of this section.\n(6) If a limited partner dies, then KRS 362.2-704 applies.\n(7) The limited partnership may impose reasonable limitations on the use of\ninformation obtained under this section. In a dispute concerning the reasonableness\nof a restriction under this subsection, t he limited partnership has the burden of\nproving reasonableness.\n(8) A limited partnership may charge a limited partner or person dissociated as a\nlimited partner who makes a demand under this section reasonable costs of copying,\nlimited to the costs of labor and material.\n(9) Whenever this subchapter or a partnership agreement provides for a limited partner\nto give or withhold consent to a matter, before the consent is given or withheld, the\nlimited partnership shall, without demand, provide the limited pa rtner with all\ninformation that the limited partnership knows and is material to the limited\npartner's decision.\n(10) A limited partner or person dissociated as a limited partner may exercise the rights\nunder this section through an attorney or other agent . In that event, any limitations\non availability and use under subsection (7) of this section apply both to the limited\npartner or person and to the attorney or other agent.\n(11) The rights stated in this section do not extend to a transferee, but:\n(a) Subsection (4) of this section creates rights for a person dissociated as a\nlimited partner;\n(b) Subsection (6) of this section recognizes the rights of the executor or\nadministrator of a deceased limited partner; and\n(c) The rights under this section extend to the legal representative of an individual\nunder legal disability who is a limited partner or person dissociated as a\nlimited partner.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34580","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:58Z","sha256":"d992b3e422605ec8261f14ab44294621f64e31eefe85c4c4a315320e5e670763","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.2-303","next":"us-ky/krs-362.2-305"},"notice":"GroundRules: Original legal text. Not legal advice."}