Title to property held by company
Known as the Kentucky Limited Liability Company Act
The act spans §§ 275.001 to 275.540 (110 sections).
Applied in 1 court decision — leading case Derby City Capital, LLC v. Trinity HR Services (2013)
Most recently applied in Derby City Capital, LLC v. Trinity HR Services (June 2013)
Effective: July 15, 1994 History: Created 1994 Ky
(1) Property transferred to or otherwise acquired by a limited liability company shall be the property of the limited liability company and not of the members individually.
(2) Property may be acquired, held, and conveyed in the name of the limited liability company. Any estate in real property may be acquired in the name of the limited liability company, and title to any interest so acquired shall vest in the limited liability company rather than in the members individually.
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.