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Kentucky Revised Statutes · § 362.2-303 — No liability as limited partner for limited partnership

362.2-303. No liability as limited partner for limited partnership

(1) An obligation of a limited partnership, whether arising in contract, tort, or otherwise, is not the obligation of any limited partner. A limited partner is not personally liable, directly or indirectly, by way of indemnification, contribution, assessment, or otherwise, for an obligation of the limited partnership solely by reason of being a limited partner, even if the limited partner participates in the management and control of the limited partnership.

(2) Subsection (1) of this section shall not affect the liability of a limited partner for his or her own negligence, wrongful acts, or misconduct.

Source notes

Effective: July 15, 2010

History and annotations

Amended 2010 Ky. Acts ch. 133, sec. 61, effective July 15, 2010. -- Created 2006 Ky. Acts ch. 149, sec. 117, effective July 12, 2006.

Official source for this version

Source captured 2026-09-25. Open the official source.

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