362.447 General power and liabilities of general partners.
130 words·~1 min read·
/ky/chapter-362/362-447A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Except as provided in KRS 362.403 to 362.525 or in the partnership agreement, a
general partner of a limited partnership shall have all of the rights and powers, and
is subject to all of the restrictions, of a partner in a partnership without limited
partners.
(2)Except as provided in KRS 362.403 to 362.525, a general partner of a limited
partnership shall have all of the liabilities of a partner in a partnership without
limited partners to persons other than the partnership and the other partners. Except
as provided in KRS 362.403 to 362.525 or in the partnership agreement, a general
partner of a limited partnership shall have all of the liabilities of a partner in a
partnership without limited partners to the partnership and to the other partners.