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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) After dissolution, a partner who has not wrongfully dissociated may file a statement of dissolution stating the name of the partnership, that the partnership has dissolved and is winding up its business, and the date of dissolution.
(2) A statement of dissolution cancels a filed statement of partnership authority for the purposes of KRS 362.1-303(4) and is a limitation on authority for the purposes of KRS 362.1-303(5).
(3) For the purposes of KRS 362.1-301 and 362.1-804, a person not a partner has notice of the dissolution and the limitation on the partners' authority as a result of the statement of dissolution ninety (90) days after it is filed.
(4) After filing a statement of dissolution, a dissolved partnership may file and, if appropriate, record a statement of partnership authority which will operate with respect to a person not a partner as provided in KRS 362.1-303(4) and (5) in any transaction, whether or not the transaction is appropriate for winding up the partnership business.
Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXIX. Commerce and Trade § 362.1-805.Statement of dissolution - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xxix-commerce-and-trade/ky-rev-st-sect-362-1-805/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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