A corporation may pay or allow the expenses of selling or underwriting its shares or other securities, and of organizing or reorganizing the corporation, from the consideration received for shares without thereby rendering such shares or other securities not fully paid or assessable.
KRS 271B.6-280
Expense of issue
Known as the Kentucky Business Corporation Act
The act spans §§ 271B.10-010 to 271B.8-580 (197 sections).
Effective: January 1, 1989 History: Created 1988 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.