275.010 Powers of limited liability companies.

219 words·~1 min read·/ky/chapter-275/275-010

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Except as otherwise set forth in this chapter or unless the articles of organization or

operating agreement provide otherwise, every limited liability company shall have

the powers to do all things necessary or convenient to carry out its business and

affairs.

(2)A limited liability company is a legal entity distinct from its members.

(3)Professional limited liability companies shall be governed by the laws, whether

statutory or common law, applicable to other limited liability companies. Except for

those provisions concerning the personal liability of members, managers,

employees, and agents of a limited liability company, nothing in this chapter shall

restrict, limit, or expand in any manner the authority and duty of any regulating

board to:

(a)License individual persons providing professional services; and

(b)Regulate the practice of persons providing professional services which are

within the jurisdiction of the regulating board, even though the persons are

members, managers, employees, or agents of a professional limited liability

company, or provide professional services through a professional limited

liability company, including the establishment of regulations concerning:

1. The qualifications of members or managers of a professional limited

liability company;

2. The transfer of limited liability company interests in a professional

limited liability company; or

3. The provision of one

(1)or more professional services through a

professional limited liability company.