362.595 Result of failure to comply with KRS 362.555 -- Service of process.

181 words·~1 min read·/ky/chapter-362/362-595

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

(1)The failure of a registered limited liability partnership to comply with any

requirements of KRS 362.555 shall not impair the validity of any contract, deed,

mortgage, security interest, lien, or act of the registered limited liability partnership

or prevent the registered limited liability partnership from defending any action,

suit, or proceeding in any court of this Commonwealth.

(2)Subject to subsection

(3)of this section, the protection from liability of a partner of

a registered limited liability partnership under KRS 362.220(2) shall not be altered

by reason of the failure of the partnership to comply with any requirements of KRS

362.555.

(3)A partner in a partnership which has previously filed a statement under KRS

362.555, and which has failed to comply with the renewal statement requirements

of KRS 362.555, shall not be entitled to protection from liability under KRS

362.220(2) in any action or proceeding brought by any person who did business

with the partnership during the period it failed to comply and who did not at that

time have actual knowledge that it was a limited liability partnership.