Public-domain · open source
OpenJurist

KRS 362.2-953

Action on plan of conversion by converting limited partnership

Known as the Kentucky Uniform Limited Partnership Act

The act spans §§ 362.2-1001 to 362.2-977 (140 sections).

Effective: July 12, 2006 History: Created 2006 Ky

(1) Subject to KRS 362.2-960, a plan of conversion shall be approved by all the partners of a converting limited partnership.

(2) Subject to KRS 362.2-960 and any contractual rights, after a conversion is approved, and at any time before a filing is made under KRS 362.2-954, a converting limited partnership may amend the plan or abandon the planned conversion:

(a) As provided in the plan; and (b) Except as prohibited by the plan, by the same consent as was required to approve the plan.

(3) Unless otherwise provided in the partnership agreement, a partner has no right to dissent from a conversion.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.