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the Kentucky Revised Statutes
2006 Kentucky Revised Statutes - .030 Issued and outstanding shares.
271B.6-030 Issued and outstanding shares. (1) A corporation
may issue the number of shares of each class or series authorized
by the articles of incorporation. Shares that are issued shall be
outstanding shares until they are reacquired, redeemed, converted,
or canceled. (2) The reacquisition, redemption, or conversion of
outstanding shares shall be subject to the limitations of
subsection (3) of this section and to KRS 271B.6-400. (3) At all
times that shares of the corporation are outstanding, one (1) or
more shares that together have unlimited voting rights and one (1)
or more shares that together are entitled to receive the net assets
of the corporation upon dissolution shall be outstanding.
Effective: January 1, 1989 History: Created 1988 Ky.
Acts ch. 23, sec. 35, effective January 1, 1989.
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