2011 Kentucky Revised Statutes Subtitle 10 Amendment of Articles of Incorporation and Bylaws 271B.10.010 Authority to amend -- Conversion to nonstock, nonprofit corporation.
KY Rev Stat § 271B.10.010 (1996 through Reg Sess) What's This?
271B.10-010 Authority to amend -- Conversion to nonstock, nonprofit corporation.
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A corporation may amend its articles of incorporation at any time to add or change a
provision that is required or permitted in the articles of incorporation or to delete a
provision not required in the articles of incorporation. Whether a provision is
required or permitted in the articles of incorporation shall be determined as of the
effective date of the amendment.
A shareholder of the corporation shall not have a vested property right resulting
from any provision in the articles of incorporation, including provisions relating to
management, control, capital structure, dividend entitlement, or purpose or duration
of the corporation.
A corporation existing under this chapter or its predecessors may amend its articles
of incorporation to convert into a nonstock, nonprofit corporation under KRS
273.161 to 273.387, but a corporation existing under KRS 273.161 to 273.387 may
not convert to a corporation existing under this chapter.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 182, sec. 8, effective June 20, 2005. -- Created
1988 Ky. Acts ch. 23, sec. 103, effective January 1, 1989.
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