56a-1001. Statement of qualification. - Kansas Statutes

56a-1001

Chapter 56a.--KANSAS UNIFORM PARTNERSHIP ACT Article 10.--LIMITED LIABILITY PARTNERSHIP

      56a-1001.   Statement of qualification.(a) A partnership may become a limited liabilitypartnershippursuant to this section.

      (b)   The terms and conditions on which a partnership becomes a limitedliability partnership must be approved by the vote necessary to amend thepartnership agreement except, in the case of a partnership agreement thatexpressly considers contribution obligations, the vote necessary to amend thoseprovisions.

      (c)   After the approval required by subsection (b), a partnership may becomea limited liability partnership by filing a statement of qualification. Thestatement must contain:

      (1)   The name of the partnership;

      (2)   the street address of the partnership's principal office and,if different, the street address of an office in this state, if any;

      (3)   if there is no office in this state, the name and street address of thepartnership's agent for service of process who must be an individual residentof this state or any other person authorized to do business in this state;

      (4)   a statement that the partnership elects to be a limited liabilitypartnership; and

      (5)   a deferred effective date, if any.

      (d)   The status of a partnership as a limited liability partnership iseffective on the later of the filing of the statement or a date specified inthe statement. The status remains effective, regardless of changes in thepartnership, until it is canceled pursuant to subsection (d) of K.S.A. 56a-105 orrevoked pursuant to K.S.A. 56a-1201.

      (e)   The status of a partnership as a limited liability partnership and theliability of its partners is not affected by errors or later changes in theinformation required to be contained in the statement of qualification undersubsection (c).

      (f)   The filing of a statement of qualification establishes that apartnership has satisfied all conditions precedent to the qualification of thepartnership as a limited liability partnership.

      (g)   An amendment or cancellation of a statement of qualification iseffective when it is filed or on a deferred effective date specified in theamendment or cancellation.

      History:   L. 1998, ch. 93, § 53; Jan. 1, 1999.