{"data":{"id":"us-ky/krs-362.483","jurisdiction":"us-ky","citation":"KRS 362.483","heading":"Right of assignee to become limited partner.","body":"(1) An assignee of a partnership interest, including an assignee of a general partner,\nmay become a limited partner if and to the extent that:\n(a) The assignor gives the assignee that right in accordance with the provisions of\nthe partnership agreement; or\n(b) All other partners consent.\n(2) An assignee who has become a limited partner shall have, to the extent assigned, the\nrights and powers, and shall be subject to the restrictions and liabilities, of a limited\npartner under the partnership agreement and KRS 362.403 to 362.525. An assignee\nwho becomes a limited partner also shall be liable for the obligations of his assignor\nto make and return contributions as provided in KRS 362.455 and 362.475.\nHowever, the assignee shall not be obligated for liabilities unk nown to the assignee\nat the time he became a limited partner and which could not be ascertained from the\npartnership agreement.\n(3) If an assignee of a partnership interest becomes a limited partner, the assignor shall\nnot be released from his liability to  the limited partnership under KRS 362.427 and\n362.455.","path":["KRS Chapter 362"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34380","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:56Z","sha256":"707823c9e767d74d6c4b0bead9970f31efcd6f15bcda3d66e61849d6d0cc989f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.481","next":"us-ky/krs-362.485"},"notice":"GroundRules: Original legal text. Not legal advice."}