05RS HB247

HB247

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HB 247 (BR 947) - S. Brinkman

     AN ACT relating to business organizations.
     Create two new subchapters of KRS Chapter 362, relating to partnerships, to adopt with some changes the Uniform Partnership Act, approved by the National Conference of Commissioners on Uniform State Laws in 1994 and with amendments thereto in 1997, and the Uniform Limited Partnership Act, approved by the National Conference of Commissioners on Uniform State Laws in 2001; create a new section of KRS Chapter 275, the Kentucky Limited Liability Company Act, to permit the conversion of a limited liability company to a limited partnership; amend KRS 446.010, relating to definitions for the Kentucky Revised Statutes, to provide that the word "partnership" shall include all varieties of both general and limited partnerships, unless otherwise required by the context; amend KRS 365.015, 313.310, 148.851, 164.6011, 274.005, 275.010, 292.310, 342.0011, 67.750, various sections in Title XI, relating to revenue and taxation, and various sections in KRS Chapter 154, relating to state development, to conform; and, effective January 1, 2007, repeal KRS 14.140, the Uniform Partnership Act, KRS 362.150 to 362.360, the Kentucky Revised Uniform Limited Partnership Act, KRS 362.401 to 362.525, and remaining sections of KRS Chapter 362 relating to registered limited liability partnerships, merger of various partnerships with other business entities, and suits by and against partnerships.

     Feb 2-introduced in House
     Feb 3-to Judiciary (H)


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