Ky. Rev. Stat. § 362.2-403

Current through 2024 Ky. Acts ch. 225
Section 362.2-403 - Limited partnership liable for general partner's actionable conduct
(1) A limited partnership is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or omission, or other actionable conduct, of a general partner acting in the ordinary course of activities of the limited partnership or with authority of the limited partnership.
(2) If, in the course of the limited partnership's activities or while acting with authority of the limited partnership, a general partner receives or causes the limited partnership to receive money or property of a person not a partner, and the money or property is misapplied by a general partner, the limited partnership is liable for the loss.

KRS 362.2-403

Effective:7/12/2006
Created 2006, Ky. Acts ch. 149, sec. 123, effective7/12/2006.