{"data":{"id":"us-ky/krs-362.2-975","jurisdiction":"us-ky","citation":"KRS 362.2-975","heading":"Effective date.","body":"(1) This subchapter governs only:\n(a) A limited partnership formed on or after July 12, 2006; and\n(b) Except as otherwise provided in subsection (2)(c) and (d) of this section, a\nlimited partnership formed before July 12, 2006, which elects, in the manner\nprovided in its partnership agreement or by law for amending the partnership\nagreement, to be subject to this subchapter. The filing of an amended or an\namended and restated certificate of limited partnership electing limited\nliability limited partnership status shall constitute an election to  be governed\nby KRS 362.2-102 to 362.2-977.\n(2) With respect to a limited partnership formed before July 12, 2006, that elects to be\ngoverned by KRS 362.2 -102 to 362.2 -977, the following rules apply, except as the\npartners otherwise elect in the manner pro vided in the partnership agreement or by\nlaw for amending the partnership agreement:\n(a) KRS 362.2 -104(3) does not apply and the limited partnership has whatever\nduration it had under the law applicable immediately before July 12, 2006;\n(b) KRS 362.2-601 and 362.2-602 do not apply and a limited partner has the same\nright and power to dissociate from the limited partnership, with the same\nconsequences, as existed immediately before July 12, 2006;\n(c) KRS 362.2-603(4) does not apply;\n(d) KRS 362.2-603(4) does not apply and a court has the same power to expel a\ngeneral partner as the court had before July 12, 2006; and\n(e) KRS 362.2 -801(3) does not apply and the connection between a general\npartner's dissociation and the dissolution of the limited partnership is the same\nas existed before July 12, 2006.\n(3) With respect to a limited partnership that elects, pursuant to subsection (1)(b) of this\nsection, to be subject to this subchapter, after the election takes effect, the\nprovisions of this subchapter relating to the liability of the limited partnership's\ngeneral partners to third parties apply:\n(a) Before January 1, 2009, to:\n1. A third party that had not done business with the limited partnership in\nthe year before the election took effect; and\n2. A third party that had done business with the limited partnership in the\nyear before the election took effect only if the third party knows or has\nreceived a notification of the election; and\n(b) On or after January 1, 2009, to all third parties.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41542","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:59Z","sha256":"abeb591c3a9782fdbe5571f0afe88dec19cccb8d5524029367121ed515c5ed68","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.2-974","next":"us-ky/krs-362.2-976"},"notice":"GroundRules: Original legal text. Not legal advice."}