362.220 Nature of partner's liability.

180 words·~1 min read·/ky/chapter-362/362-220

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

(1)Except as provided in subsection

(2)of this section, all partners shall be liable:

(a)Jointly and severally for everything chargeable to the partnership under KRS

362.210 and 362.215; and

(b)Jointly for all other debts and obligations of the partnership; but any partner

may enter into a separate obligation to perform a partnership contract.

(2)Subject to subsection

(3)of this section and subject to any agreement among the

partners, a partner in a registered limited liability partnership shall not be liable

directly or indirectly, including by way of indemnification, contribution, assessment

or otherwise, for debts, obligations, and liabilities of or chargeable to the

partnership, whether arising in tort, contract, or otherwise, arising from negligence,

malpractice, wrongful acts, or misconduct committed while the partnership is a

registered limited liability partnership and in the course of the partnership business

by another partner or an employee, agent, or representative of the partnership.

(3)Subsection

(2)of this section shall not affect the liability of a partner in a registered

limited liability partnership for his own negligence, wrongful acts, or misconduct.