362.487 Nonjudicial dissolution.
178 words·~1 min read·
/ky/chapter-362/362-487A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A limited partnership shall be dissolved, and its affairs shall be wound up, upon the happening of the first to occur of the following events:
(1)At the time specified in the certificate of limited partnership;
(2)An event specified in writing in the partnership agreement;
(3)The written consent of all partners;
(4)An event of withdrawal of a general partner, unless at the time there is at least one
(1)other general partner, and the written provisions of the partnership agreement
permit the business of the limited partnership to be carried on by the remaining
general partner and that partner does so; but the limited partnership shall not be
dissolved and shall not be required to be wound up by reason of any event of
withdrawal if, within ninety
(90)days after the withdrawal, all partners agree in
writing to continue the business of the limited partnership and to the appointment of
one
(1)or more additional general partners if necessary or desired; or
(5)The entry of a decree of judicial dissolution under KRS 362.489.