{"data":{"id":"us-ky/krs-362.455","jurisdiction":"us-ky","citation":"KRS 362.455","heading":"Liability for contribution.","body":"(1) A promise by a limited partner to contribute to the limited partnership shall not be\nenforceable unless it is set out in a writing signed by or on behalf of, pursuant to a\npower of attorney which need not be of record, the limited partner.\n(2) Except as provided in the partnership agreement, a partner shall be obligated to the\nlimited partnership to perform any enforceable promise to contribute cash or\nproperty or to perform services, even if he is unable to perform because of his death\nor disability or any  other reason. If a partner does not make the required\ncontribution of property or services, he shall be obligated, at the option of the\nlimited partnership, to contribute cash equal to that portion of the value, as stated in\nthe partnership records requir ed to be kept pursuant to KRS 362.409, of the stated\ncontribution that has not been made.\n(3) Unless otherwise provided in the partnership agreement, the obligation of a partner\nto make a contribution or return money or other property paid or distributed i n\nviolation of this section may be compromised only by consent of all the partners.\nNotwithstanding the compromise, a creditor of a limited partnership who extends\ncredit or otherwise acts in reliance upon that obligation after the partner has signed\na writing which reflects the obligation, and before the amendment or cancellation of\nthe writing to reflect the compromise, may enforce the original obligation.","path":["KRS Chapter 362"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34363","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:55Z","sha256":"ad425846a269ac4195cd837272fdc98de8cd84b77b7312da4f25d83f4ef0a538","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.453","next":"us-ky/krs-362.457"},"notice":"GroundRules: Original legal text. Not legal advice."}