1. (1) A limited partnership is an entity distinct from its partners. A limited partnership is the same entity regardless of whether its certificate states that the limited partnership is a limited liability limited partnership.
2. (2) A limited partnership may be organized under this subchapter for any lawful purpose except for rendering a professional service.
3. (3) A limited partnership has a perpetual duration.

Effective: July 12, 2006

History: Created 2006 Ky. Acts ch. 149, sec. 83, effective July 12, 2006.