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KRS 271B.7-260

Action by single and multiple voting groups

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

(1) If the articles of incorporation or this chapter provide for voting by a single voting group on a matter, action on that matter shall be taken when voted upon by that voting group as provided in KRS 271B.7-250.

(2) If the articles of incorporation or this chapter provide for voting by two (2) or more voting groups on a matter, action on that matter shall be taken only when voted upon by each of those voting groups counted separately as provided in KRS 271B.7-250. Action may be taken by one (1) voting group on a matter even though no action is taken by another voting group entitled to vote on the matter.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.