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Kentucky Revised Statutes Title XXIII. Private Corporations and Associations § 275.010.Powers of limited liability companies

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Except as otherwise set forth in this chapter or unless the articles of organization or operating agreement provide otherwise, every limited liability company shall have the powers to do all things necessary or convenient to carry out its business and affairs.

(2) A limited liability company is a legal entity distinct from its members.

(3) Professional limited liability companies shall be governed by the laws, whether statutory or common law, applicable to other limited liability companies. Except for those provisions concerning the personal liability of members, managers, employees, and agents of a limited liability company, nothing in this chapter shall restrict, limit, or expand in any manner the authority and duty of any regulating board to:

(a) License individual persons providing professional services; and

(b) Regulate the practice of persons providing professional services which are within the jurisdiction of the regulating board, even though the persons are members, managers, employees, or agents of a professional limited liability company, or provide professional services through a professional limited liability company, including the establishment of regulations concerning:

1. The qualifications of members or managers of a professional limited liability company;

2. The transfer of limited liability company interests in a professional limited liability company; or

3. The provision of one (1) or more professional services through a professional limited liability company.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXIII. Private Corporations and Associations § 275.010.Powers of limited liability companies - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xxiii-private-corporations-and-associations/ky-rev-st-sect-275-010/

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