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274.055 Effect of chapter -- Liability.
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Except as otherwise provided in this section, KRS 271B.6-220 applies to a
corporation governed by this chapter.
The provisions of this chapter shall not alter any law applicable to, or otherwise
affect the fiducial, confidential or ethical relationship between a person
rendering professional services and a person receiving such services. The
corporation shall be jointly and severally liable, with the tortfeasor, to the full
value of its assets for any negligent or wrongful acts or actionable misconduct
committed by any of its officers, shareholders, agents or employees while they
are engaged on behalf of the corporation in the rendering of professional
service; provided, however, that no shareholder, director, officer or employee
of a professional service corporation shall be personally liable for the
negligence, wrongful acts, or actionable misconduct of any other shareholder,
director, officer, agent or employee nor shall such shareholder, director, officer
or employee be personally liable for the contractual obligations of the
corporation.
Notwithstanding any contrary provisions of law, a corporation organized under
this chapter may charge and collect fees for the professional services of its
officers, directors, agents or employees, and may compensate those who
render such professional services.
Notwithstanding KRS 14A.9-050(3), any foreign professional service
corporation granted a certificate of authority to conduct business within this
state and those persons rendering professional services through it shall be
subject to this section.
Effective:June 8, 2011
History: Amended 2011 Ky. Acts ch. 29, sec. 12, effective June 8, 2011. -Amended 2010 Ky. Acts ch. 133, sec. 26, effective July 15, 2010. -- Amended
1980 Ky. Acts ch. 288, sec. 11, effective July 15, 1980. -- Created 1962 Ky. Acts
ch. 236, sec. 6.
Legislative Research Commission Note (6/8/2011). 2011 Ky. Acts ch. 29,
sec. 24, provides that the amendments to this section in 2011 Ky. Acts ch. 29,
sec. 12, are retroactive to January 1, 2011.
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