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Kentucky Revised Statutes Title XXIX. Commerce and Trade § 362.409.Records to be kept

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

(1) Each limited partnership shall keep, at the office referred to in KRS 362.407(2), the following records:

(a) A current list of the full names and last known business, residence, or mailing addresses of all partners, separately identifying in alphabetical order the general partners and the limited partners;

(b) A copy of the certificate of limited partnership and all certificates of amendment thereto, together with executed copies of any powers of attorney pursuant to which any certificate was executed;

(c) Copies of the limited partnership's federal, state and local income tax returns and reports, if any, for the three (3) most recent years;

(d) Copies of any then effective written partnership agreement and of any financial statements of the limited partnership for the three (3) most recent years; and

(e) Unless contained in a written partnership agreement, a writing setting out:

1. The amount of cash and a description and statement of the agreed value of the other property or services contributed by each partner and which each partner has agreed to contribute;

2. The times at which, or events upon the happening of which, any additional contributions agreed to be made by each partner are to be made;

3. Any right of a partner to receive distributions, or of a general partner to make distributions to a partner, that includes a return of all or any part of the partner's contribution; and

4. Any events upon the happening of which the limited partnership is to be dissolved and its affairs wound up.

(2) Records kept under this section may be inspected and copied during ordinary business hours at the reasonable request, and at the expense, of any partner.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXIX. Commerce and Trade § 362.409.Records to be kept - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xxix-commerce-and-trade/ky-rev-st-sect-362-409/

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