{"data":{"id":"us-ky/krs-362.2-605","jurisdiction":"us-ky","citation":"KRS 362.2-605","heading":"Effect of dissociation as general partner.","body":"Upon a person's dissociation as a general partner:\n(1) The person's right to participate as a general partner in the management and conduct\nof the partnership's activities terminates;\n(2) The person's duty of loyalty as a general partner under KRS 362.2 -408(2)(c)\nterminates;\n(3) The person's duty of loyalty as a general partner under KRS 362.2 -408(2)(a) and\n(2)(b) and duty of care under KRS 362.2 -408(3) continue only with regard to\nmatters arising and events occurring before the person's dissociation as a g eneral\npartner;\n(4) The person may sign and deliver to the Secretary of State for filing a statement of\ndissociation pertaining to the person and, at the request of the limited partnership,\nshall sign an amendment to the certificate of limited partnership which states that\nthe person has dissociated;\n(5) Subject to KRS 362.2 -704 and 362.2 -951 to 362.2 -963, any transferable interest\nowned by the person immediately before dissociation in the person's capacity as a\ngeneral partner is owned by the person as a mere transferee; and\n(6) The dissociation does not of itself discharge the person from any obligation to the\nlimited partnership or the other partners which the person incurred while a general\npartner.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34604","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:58Z","sha256":"396504e5692425983c8d43705b92fb7b412a1ffef0b48cd16fb871ae7cbd86ee","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.2-604","next":"us-ky/krs-362.2-606"},"notice":"GroundRules: Original legal text. Not legal advice."}