{"data":{"id":"us-ky/krs-362.475","jurisdiction":"us-ky","citation":"KRS 362.475","heading":"Liability upon return of contributions.","body":"(1) (a) If a partner receives the return of any part of his contribution without violation\nof the partnership agreement or KRS 362.403 to 362.525, he shall be liable to\nthe limited partnership for a period of one (1) year thereafter for the amount of\nthe returned contribution, without interest, but only to the extent necessary to\ndischarge the limited partnership's liabilities to creditors who extended credit\nto the limited partnership during the period the contribution was held by the\nlimited partnership.\n(b) If a partner receives the return of any part of his contribution in violation of\nthe partnership agreement or KRS 362.403 to 362.525, he shall be liable to the\nlimited partnership for a period of six (6) years thereafter for the amount of\nthe contribution, without interest, wrongfully returned.\n(2) A partner shall receive a return of his contribution to the extent that a distribution to\nhim reduces his share of the fair value of the net assets of the limited partnership\nbelow the value, as set forth in the part nership records required to be kept pursuant\nto KRS 362.409, of his contribution which has not been distributed to him.","path":["KRS Chapter 362"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34375","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:55Z","sha256":"3d032bb5094ec5279e70de507e54cc547d061036373a7873f948479ec62990c6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.473","next":"us-ky/krs-362.477"},"notice":"GroundRules: Original legal text. Not legal advice."}