Download as PDF
273.382 Conversion of Chapter 271B corporation to corporation governed by
KRS 273.161 to 273.387.
(1)
(2)
(3)
(4)
A corporation organized under KRS Chapter 271B or its predecessors may
convert to a corporation organized under and governed by KRS 273.161 to
273.387 as authorized by KRS 271B.10-010.
A corporation that has been converted under KRS 271B.10-010 shall be for all
purposes the same entity that existed before the conversion.
Upon the filing of amended and restated articles of incorporation satisfying the
requirements of KRS 271B.10-010:
(a) All property and contract rights owned by, and all rights, privileges, and
immunities of, the converting corporation shall remain vested in the
converted corporation without assignment, reversion, or impairment;
(b) All obligations of the converting corporation shall continue as obligations
of the converted corporation;
(c) An action or proceeding pending against the converting corporation may
be continued as if the conversion had not taken place, and the name of
the converted corporation may be substituted in any pending action or
proceeding in the name of the converting corporation; and
(d) The corporation shall be a nonstock, nonprofit corporation governed by
and subject to all of the limitations and requirements imposed by KRS
273.161 to 273.387.
Nothing in this section shall authorize the conversion of a corporation
organized under this chapter to a corporation organized under KRS Chapter
271B.
Effective:June 20, 2005
History: Created 2005 Ky. Acts ch. 182, sec. 10, effective June 20, 2005.
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.
