There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 273 RELIGIOUS, CHARITABLE, AND EDUCATIONAL SOCIETIES -- NONSTOCK, NONPROFIT CORPORATIONS
273.237 Shares of stock and dividends prohibited.
Download pdfpart of the income or profit of a corporation shall be distributed to its members, directors
or officers. A corporation may pay compensation in a reasonable amount to its members,
directors, or officers for services rendered, may confer benefits upon its members in
conformity with its purposes, and upon dissolution or final liquidation may make
distributions to its members as permitted by KRS 273.161 to 273.390, and no such
payment, benefit or distribution shall be deemed to be a dividend or a distribution of
income or profit. History: Created 1968 Ky. Acts ch. 165, sec. 25.
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