{"data":{"id":"us-ky/krs-362.2-607","jurisdiction":"us-ky","citation":"KRS 362.2-607","heading":"Liability to other persons of person dissociated as general partner.","body":"(1) A person's dissociation as a general partner does not of itself discharge the person's\nliability as a general partner for a limited partnership's obligation incurred before\ndissociation. Except as otherwise provided in subsections (2) and (3) of this section,\nthe person is not liable for a limited partnership's obligation incurred after\ndissociation.\n(2) A person whose dissociation as a general partner resulted in a dissolution and\nwinding up of the limited partnership's activities is liable to the same ext ent as a\ngeneral partner under KRS 362.2 -404 on an obligation incurred by the limited\npartnership under KRS 362.2-804.\n(3) A person that has dissociated as a general partner but whose dissociation did not\nresult in a dissolution and winding up of the limit ed partnership's activities is liable\non a transaction entered into by the limited partnership after the dissociation, only\nif:\n(a) A general partner would be liable on the transaction; and\n(b) At the time the other party enters into the transaction:\n1. Less than two (2) years have 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(4) By agreement with the limited partnership's creditor and the limited  partnership, a\nperson dissociated as a general partner may be released from liability for a limited\npartnership's obligation.\n(5) A person dissociated as a general partner is released from liability for a limited\npartnership's obligation if a limited partnership's creditor, with notice of the person's\ndissociation as a general partner but without the person's consent, agrees to a\nmaterial alteration in the nature or time of payment of the limited partnership's\nobligation.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34606","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:58Z","sha256":"899adf0be4e41ebcf2ebcfbada31b25bbbbaa08921ced11fe0aa5d39a5825903","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.2-606","next":"us-ky/krs-362.2-701"},"notice":"GroundRules: Original legal text. Not legal advice."}