{"data":{"id":"us-ky/krs-362.2-509","jurisdiction":"us-ky","citation":"KRS 362.2-509","heading":"Liability for improper distributions.","body":"(1) A general partner that consents to a distribution made in violation of KRS 362.2 -\n508 is personally liable to the limited partnership for the amount of the distribution\nwhich exceeds the amount that could have been distributed without the violation if\nit is  established that in consenting to the distribution the general partner failed to\ncomply with KRS 362.2-408.\n(2) A partner or transferee that knew a distribution was made in violation of KRS\n362.2-508 is personally liable to the limited partnership but onl y to the extent that\nthe distribution received by the partner or transferee exceeded the amount that could\nhave been properly paid under KRS 362.2-508.\n(3) A general partner against which an action is brought under subsection (1) of this\nsection may:\n(a) Implead in the action any other person that as a general partner consented to\nthe distribution in violation of subsection (1) of this section and compel\ncontribution from that person; and\n(b) Implead in the action any person that received a distribution in violation of\nsubsection (2) of this section and compel contribution from that person in the\namount that person received in violation of subsection (2) of this section.\n(4) A proceeding under this section is barred if it is not commenced within two (2)\nyears after the distribution.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34599","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:58Z","sha256":"3df7882c2f31b300eb6c01a9f309c3ec9836710cee927a2bfc15b1cdaca6fa50","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.2-508","next":"us-ky/krs-362.2-601"},"notice":"GroundRules: Original legal text. Not legal advice."}