14A.8-010 End of duration. (Effective January 1, 2011)
(1)
(2)
(3)
(4)
An entity, upon the expiration of its period of duration as set forth in its organic
filing, may in the sixty (60) day period thereafter amend its organic filing to extend
its period of duration or to delete its period of duration, which amendment shall
relate back to the day immediately preceding the expiration of the period of
duration.
An entity that fails to so amend its organic filing in that sixty (60) day period may
not thereafter be reinstated, and shall liquidate its business and affairs in accordance
with its organic act.
The Secretary of State may with respect to an entity whose period of duration has
expired issue a certificate of dissolution or document of similar import
notwithstanding that such certificate is issued within the sixty (60) day period
referenced in subsection (1) of this section.
This section shall have no bearing on whether or not the owners and representatives
of an entity, after expiration of its period of duration, have limited liability from the
debts, obligations, and liabilities of the entity.
Effective: January 1, 2011
History: Created 2010 Ky. Acts ch. 151, sec. 39, effective January 1, 2011.
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