There Is a Newer Version
of
the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 6 Shares and Distributions
271B.6.030 Issued and outstanding shares.
Download pdf
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 <br>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 <br>are entitled to receive the net assets of the corporation upon dissolution shall be <br>outstanding.
Effective: January 1, 1989 <br>History: Created 1988 Ky. Acts ch. 23, sec. 35, effective January 1, 1989.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
