{"data":{"id":"us-ky/krs-362.2-404","jurisdiction":"us-ky","citation":"KRS 362.2-404","heading":"General partner's liability.","body":"(1) Except as otherwise provided in subsections (2) and (3) of this section, all general\npartners are liable jointly and severally for all obligations of the limited partnership\nunless otherwise agreed by the claimant or provided by law.\n(2) A person admitted as a general partner into an existing limited partnership is not\npersonally liable for any limited partnership obligation incurred before the person's\nadmission as a general partner.\n(3) An obligation of a limited partnership arising out of or related to c ircumstances or\nevents occurring or incurred while the limited partnership is a limited liability\nlimited partnership, whether arising in contract, tort, or otherwise, is solely the\nobligation of the limited partnership. A general partner is not personally  liable,\ndirectly or indirectly, by way of indemnification, contribution, assessment, or\notherwise, for such an obligation solely by reason of being or acting as a general\npartner. This subsection applies despite anything inconsistent in the partnership\nagreement that existed immediately before the consent required to become a limited\nliability limited partnership under KRS 362.2-406(2)(b).\n(4) Subsection (3) of this section shall not affect the liability of a general partner for his\nor her own negligence, wrongful acts, or misconduct.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40460","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:58Z","sha256":"7162596f6069e5e2145ae7840c5337eb7ac881ec8647682c022402b6688c2e94","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.2-403","next":"us-ky/krs-362.2-405"},"notice":"GroundRules: Original legal text. Not legal advice."}