{"data":{"id":"us-ky/krs-362.2-606","jurisdiction":"us-ky","citation":"KRS 362.2-606","heading":"Power to bind and liability to partnership before dissolution of person","body":"dissociated as general partner.\n(1) After a person is dissociated as a general partner and before the limited partnership\nis dissolved, converted under KRS 362.2 -951 to 362.2 -963, or merged out of\nexistence under KRS 362.2 -951 to 362.2 -963, the limited partnership is bound by\nan act of the person only if:\n(a) The act would have bound the limited partnership under KRS 362.2 -402\nbefore the dissociation; and\n(b) At the time the other party enters into the transaction:\n1. Less than two (2) years has passed since the dissociation; and\n2. The other party does not have notice of the dissociation and reasonably\nbelieves that the person is a general partner.\n(2) If a limited partnership is bound under subsection (1) of this section, then the person\ndissociated as a general partner is liable:\n(a) To the limited partnership for any damage caused to the limited partnership\narising from that obligation; and\n(b) If a general partner or another p erson dissociated as a general partner is liable\nfor that obligation, to that general partner or other person for any damage\ncaused to that general partner or other person arising from that liability.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34605","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:58Z","sha256":"9b03d448c06958e6640fad152ad75cfcb9207c189b7db06e79cb01193696214a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.2-605","next":"us-ky/krs-362.2-607"},"notice":"GroundRules: Original legal text. Not legal advice."}